Through its transaction to raise capital, the company decided to issue nearly 2.25 million new shares priced at 4,100 HUF each, which resulted in a capital raise of 9.2 billion HUF. During the transaction launched on 5 October 2022, Masterplast initially offered to issue 2 million shares. Still, in the share subscription period, public and institutional investors submitted applications for nearly 2.6 million shares priced between 4,000 and 4,400 HUF.
Budapest, 18 October 2022 – Masterplast was to raise about 8-10 billion HUF funds via public and institutional investors by selling 2 million, or in the event of oversubscription, 2.3 million new shares priced between 4,000 and 4,400 HUF. Eventually, with an oversubscription of nearly 30%, subscription offers for a total of over 10.6 billion HUF were submitted in the advertised price range.
During the public share subscription launched on 5 October 2022, Masterplast offered to issue a maximum of 375 thousand new shares. Over the 10-day period of public share subscription, nearly 1200 public investors submitted their applications for more than 660 thousand shares, which, by calculating with a 4,400 HUF maximum price, resulted in a total amount of more than 2.9 billion HUF.
The institutional share subscription took place between 10 and 14 October 2022. In this period, investing institutions submitted applications for share subscription worth over 7.7 billion HUF.
The company’s board of directors, while maintaining the 50%+1 voting rights of the two main shareholders, decided to issue 2,249,352 new shares. Based on the received institutional offers, the issue price of shares was set at 4,100 HUF for each investor.
In accordance with it, Masterplast is to raise capital by 9.22 billion HUF, providing new shares worth 2.27 billion HUF to the public and 6.95 billion HUF to institutional investors. The received offers exceeded the offered amount of shares by 30%, out of which 12.5% was approved by the company’s board of directors.
Masterplast Nyrt President Dávid Tibor
“The market’s feedback on Masterplast’s improvement strategy and business vision was very positive. Even in this turbulence in the capital market, Masterplast remains a trusted company, which means a lot to us as it shows that we created value in the first 25 years; therefore, it confirms that we should carry on. Improving the energy efficiency of buildings and reducing carbon emissions have made the role of thermal insulation strategically important. The first step to reaching a sustainable future is through thermal insulation, in which Masterplast endeavours to become a leader. Certainly, my founding partner and I are extremely proud of the results of the share sales, and we thank our investors for their trust. Now we are going to focus on implementing our strategic plans and delivering business results that provide the foundations for adding value in the long run,”said Masterplast president Dávid Tibor.
Head of Capital Markets Origination and Securities Services at OTP Global Markets András Kazár
Masterplast’s exceptionally successful capital raise demonstrates that company strategies and business operations based on a solid foundation attract significant investor interest among the public and institutions, even in tough market conditions. Our well-prepared financial experts and the innovative, well-functioning digital systems of OTP Bank have also contributed to this success. We were proud to help a company with an international presence to implement their capital market-related strategies,”said the Head of Capital Markets Origination and Securities Services at OTP Global Markets, András Kazár.
The difference between the maximum share price of 4,400 HUF and the finalised price of 4,100 HUF is to be reimbursed to the investors onto their payment account with the distributor within seven days following the end of the subscription.
The introduction of the new shares to the Budapest Stock Exchange is expected on 2 November 2022.
The information mentioned above is not exhaustive; for further details on the share issuance and subscription, please visit www.otpbank.hu/masterplast
Additional information
All the information in this prospectus regarding Masterplast is based on information provided by Masterplast.
Per Regulation (EU) 2017/1129, this prospectus qualifies as advertising. This prospectus aims to provide all investors with the same regulated information and hence Masterplast Nyrt. (hereinafter ‘Company’) is to provide full transparency, furthermore to comply with regulations (EU) 2017/1129, (EU) 2014/596, and the capital market regulations under Act CXX of 2001 on the Capital Market (Act on the Capital Market). Regarding information in this prospect, the Company published a simplified prospectus related to securities issuance, complying with regulation (EU) 2017/1129 approved by the Hungarian National Bank (MNB), available on the website of the Budapest Stock Exchange, MNB’s website for prospectuses, the company’s website at https://masterplast-reszveny.hu, and the website of the sole distributor OTP Bank Nyrt. at www.otpbank.hu/masterplast. The MNB approved the simplified prospectus concerning the completeness, comprehensibility and consistency related requirements regulated by regulation (EU) 2017/1129, therefore it cannot be considered as an offer referring to the quality of the Company or its securities. This document is only for informing and awareness-raising purposes. Before making investment decisions, for more details, and the terms and conditions, please carefully read the simplified prospectus on the distribution of shares to the public. Please carefully consider the subject and risks of investment, the related fees and charges, the possibility of making a loss, and find out more about the product and investment-related tax regulations. Any risks emerging from the investment, or from specific unique decisions will be taken by the customer; OTP Bank Nyrt. cannot be held liable for the profitability of investments or the achievement of customer goals. Information published in this document does not qualify as investment advice nor an offer, recommendation, or call for proposal to execute the transaction. Information published in this document does not take into account the individual circumstances of the potential investors, therefore this prospectus exclusively is not an adequate basis for decision-making. Changes in the money and capital market, exchange rates, and trends in investments and their returns are influenced by a combination of several factors, including the significant factor of changes in investor expectations. Each investment carries certain risks, which might affect the profitability of the investment decision, and thus the investor might not receive the expected returns from their investment, or the amount invested, therefore the invested capital may possibly reduce or become completely lost. Share prices constantly change, and immediate selling can be executed on the current exchange rate, which may result in exchange rate losses. In the case of each product and service, please evaluate their tax accounting or other tax-related implications, considering that they can only be concluded under the effective tax regulations and the individual circumstances of the customer, and these circumstances may change in the future.
Masterplast Nyrt.
Founded in 1997, the Masterplast group is one of the leading building material producer and distributor companies in the Central Eastern European region. The company group owns subsidiaries in 10 countries, and sells products in a further 30 countries. The company is registered in the premium category on the Budapest Stock Exchange, and had revenue of 201,8 million euros in 2022.