Graphisoft Park Aims for Feb 15 Date to Modify Share Currency

Office Market

Graphisoft Park will request that its shares trade in euros, instead of forints, from February 15, 2023, the business park operator said on Friday, according to a report by state news wire MTI.

Graphisoft Park said it has submitted an application to the Budapest Stock Exchange on the modification of the currency of the listing of its shares. It had planned to make the switch at the beginning of 2023, but pushed back the date after parties managing securities accounts said that the unprecedented changeover would require IT procedures that can't be completed before the end of the year, the company added.

Graphisoft Park shareholders mandated the board to take steps to switch the currency in which the company's shares trade from forints to euros, and to pay dividend in euros, at an extraordinary general meeting late in November.

The proposal for the measures had been made by a shareholder who argued that the company's revenue and costs are in euros, its accounting is in euros, and its guidance and dividend proposals are also in euros.

Graphisoft Park said on Friday that it will announce steps taken to pay dividend in euros at a later stage.

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Real Estate