(Adds comments by company, background)
* Largest IPO on Budapest bourse in years
* Shares offered at price range between HUF 5,100 to HUF
* Offer period ends on June 29
* Proceeds to finance purchase of Poland's Link
By Krisztina Than
BUDAPEST, June 19 Hungarian road transport firm
Waberer's International launched an initial public offering
(IPO) in Budapest on Monday, in which it plans to raise about 45
million euros in capital to help finance its purchase of Polish
The IPO will be the biggest on the Budapest bourse in years
and offers some hope for a possible revival of a market
currently dominated by four blue-chip stocks.
Waberer's is one of Europe's biggest haulage businesses with
a fleet of more than 3,500 vehicles and a total revenue of 572.4
million euros in 2016.
The company said on Monday that it would offer up to
11,735,085 shares beginning on Monday and ending on June 29.
The offering is priced in a range from 5,100 to 6,300
forints per share. The price will be set on June 29.
It will comprise up to 3,088,236 newly issued ordinary
shares and also existing shares held by CEE Transport Holding
The offering will include a private placement to
institutional investors and a public offering of up to 1,379,718
existing shares, up to 297,175 over-allotment shares and up to
617,647 new shares in Hungary.
Assuming all the offered shares are sold at the mid-point of
the offer price range, the total net proceeds are expected to
amount to about 197 million euros, of which Waberer's will
receive about 45 million, it said.
The company said it would use around 32 million euros of the
proceeds to help fund the acquisition of Polish peer Link, with
the rest used for working capital and general corporate
purposes. Waberer's signed a deal to buy Link in May.
The company will hold a news conference at 1000 GMT.
The company is indirectly controlled by funds advised by Mid
Europa Partners, a financial investor. Shares held by those
funds will be sold via CEE Transport Holding BV, Waberer's said.
(Reporting by Krisztina Than and Marton Dunai; editing by Jason