Another company has been added to the Standard category, which now has 21 issuers: Civita Group’s entry into the public market was signaled by a trading bell at the Budapest Stock Exchange, which was attended by Gábor Vaszkó, chairman of the board of Civita Group, and Gábor Péter Nagy, director of the BÉT.
As a result of Civita Group’s public share subscription, which ended on June 23, the food manufacturing company issued shares worth a total of HUF 453 million. With the issue, 12.029 million shares of the company, with a nominal value of HUF 100 each, appear in the BÉT’s Standard category.
The Civita Group, as a family business, has been dealing with corn processing for almost 30 years. The company owns one of the largest corn mills in Central Europe, in which approximately 40,000 tons of corn are processed per year, producing health-conscious and “free from” foods in the name of sustainability. In Hungary, they have a diversified palette of corn-based products in a unique way: their current businesses include corn pasta, as well as the production of corn-based oils, milling industry products and, more recently, catering accessories, edible glasses and plates. Among the company’s growth plans, the expansion of the export market has a prominent place, which can be significantly supported by the appearance on the stock market.
During the preparation for the stock exchange, in the spirit of systematic construction, the company participated in several programs of the Budapest Stock Exchange that promote the appearance of medium-sized companies on the stock exchange: in 2018, they were introduced to the wider public in the BSE’s BÉT50 publication, which examines dynamically growing medium-sized companies, and then the intellectual property necessary for a stock market presence in order to attract capital, they applied for the international company development training, the ELITE Program.
“Today, a dream that has been cherished for years came true with the Civita group becoming a listed company. For the past 30 years, we have forged goals from dreams and successes from goals. The presence on the stock exchange is another success and another significant step in the life of the company group. It took us a long way to the stock market. The new market environment and overcoming new challenges experienced in the last three years slowed us down, but did not discourage us. We entered the stock exchange today as a stronger, more mature company than in the beginning. We have already experienced the additional benefits during the journey to the stock market, such as increased brand recognition and more structured operations. We are confident that with our presence on the stock exchange, we will be able to grow faster and achieve even more goals.” – said Gábor Vaszkó, president of Civita Group, in connection with the introduction.
“I think that the Civita Group can serve as an example for Hungarian medium-sized companies in several respects: on the one hand, as a family business, they have carried out a successful generational change. On the other hand, by appearing on the market in the context of a public capital increase, they also demonstrated the advantages of the capital market fundraising method. And thirdly, with their introduction, the range of issuers in a sector that has an extremely significant weight in the domestic economy has been expanded on the stock exchange. I hereby congratulate the company on all these results, and I wish them to find their calculations on the capital market!” – added Gábor Péter Nagy, director of the Budapest Stock Exchange.
Cover image: BÉT
