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Kapolyi Law Firm Advises on AutoWallis IPO and Listing on Budapest Stock Exchange

7 March 2019

Kapolyi Law Firm AutoWallis Listing

Kapolyi Law Firm recently advised AutoWallis Plc., a new company of the Wallis Group specialising in automotive investments, on its 7 February 2019 IPO and share listing on the Budapest Stock Exchange.

The event was attended by Mr Tibor Veres, majority shareholder of Wallis Group, Mr Zsolt Müllner, Chairman of the Board of Directors of AutoWallis Plc., Mr Gábor Székely, investment director of the company, and Mr Richárd Végh, CEO of BSE.

Kapolyi Law Firm, who provided full legal support for the stock exchange listing, was represented by József Kapolyi, Managing Partner, Viktor Krezinger, leader of the capital markets’ practice group and Ádám Menyhárt, associate.

Kapolyi Law Firm managed and carried out the complex corporate law related transaction of capital increase in a value of 15.8 billion forints, and, simultaneously, the licensing procedure before the Hungarian supervisory authority of capital markets on the public bid of Wallis acquiring a qualifying majority as a result of the capital increase, as well as on the publication for the listing of AutoWallis Plc. on the stock exchange.

At the event, Tibor Veres confirmed his commitment to the development of the Budapest Stock Exchange, stating that "a number of prominent undertakings of the group has already benefited from the financing opportunities provided by the public operation. Alteo Plc., a majority-owned energy service provider and trader of the investment group, has been listed on the Hungarian stock exchange since 2010, while Wing Zrt., leading real estate developer and investor in the Hungarian real estate market, is one of the biggest bond issuers on BSE."

József Kapolyi stated that he was proud that over the past month, his firm has assisted two major clients in public listings on the Budapest Stock Exchange. He also thanked everyone involved in the implementation of the IPO at Wallis Group and at BSE for their co-operation, and highlighted the outstanding professional performance of his colleagues, Viktor Krezinger and Ádám Menyhárt.

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