AutoWallis Marks 5th Anniversary on BSE
AutoWallis executives celebrate five years trading on the Budapest Stock Exchange, including CEO Gábor Ormosy (far right), and Zsolt Müllner, chairman of the board (second left), with Richárd Végh, the CEO of the BSE. Photo by AutoWallis.
Photo by AutoWallis
Executives of car seller AutoWallis ceremoniously rang the opening bell of the Budapest Stock Exchange yesterday to mark the fifth anniversary of the company's listing on the bourse, according to a release on the BSE's website.
Since AutoWallis listed its shares, its revenue has quadrupled, and its profits have grown by a factor of 10, supported by acquisitions and organic growth, the company said in a press release.
Since the listing, AutoWallis has raised HUF 48 billion from the capital market, made more than 10 acquisitions, and boosted the number of brands it represents from nine to 23.
Recognizing the increasing popularity of Asian brands, AutoWallis was among the first to enter into partnerships with Chinese brands such as BYD and MG, the iconic British marque once famous for its open two-seater sports cars that now belong to Chinese state-owned automaker SAIC Motor Corporation.
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