Using local knowledge to unlock a corporate IPO
Big is not always beautiful – and we work hard to meet the needs of all our clients, regardless of size.
Following extensive preparation, UniCredit Bank Hungary Zrt. played a key role in enabling a Hungarian corn processor raise significant funds through an IPO.
Civita Group Plc successfully issued 587,500 new shares and raised HUF 453,550,000 (€1.2 million) of fresh capital, with the new shares now listed on the Standard category of the Budapest Stock Exchange. Our bank acted as sole arranger and lead distributor of the transaction – and will use the unique knowledge and experience gained during the process to the advantage of our other clients through a range of ECM and DCM solutions.
The funds will drive the future plans of Civita, which has been operating one of the largest corn mills in Central Europe for 30 years. Based in Monostorpályi, near Debrecen, this plant processes GMO-free corn purchased exclusively from Hungarian farmers, using it to produce milling products, corn pasta and corn oil, among other products. A new production line was opened in 2023, creating one of the largest gluten-free pasta facilities in Europe, with a capacity of more than 15,000 tonnes per year. Civita has also opened up a new line to produce disposable plates and cups made exclusively from maize, replacing 500 tonnes of plastic per year. The company's maize-based products, maize oil and dry pasta are now exported to 11 European countries.
HUF 453,550,000
Raised by issue of new shares
The CIVITA IPO project presented several unique challenges as it was the first IPO in the Standard category of the Budapest Stock Exchange in the last seven years, but well-structured and effective communication with our client, the supervisory authority (Central Bank of Hungary) and the investors helped successfully close the transaction despite the adverse market conditions.”
Deal Captain, Director of Advisory Budapest