Wizz Air is the fastest growing and greenest low-cost airline in Europe, with a very strong presence in Hungary. Wizz Air was established in 2003 and launched its first flight on 19 May 2004 from Katowice. Today, as a result of its consistent strong growth, it has become the leading airline in Central and Eastern Europe, with a fleet of 134 planes, offering more than 960 routes to its passengers from more than 260 airports. Wizz Air today has the lowest carbon emission per passenger driven by its continued investment in the youngest fleet and has a plan to take emissions down a further 33 percent by 2030.
Wizz Air Holdings Plc.’s shares were listed on the London Stock Exchange in February 2015.
Trading in the company’s shares has started today on the BETa market, where shares of large international companies can be accessed without the costs of foreign exchange conversions. OTP Bank acts as the market maker for Wizz Air shares.
„Capital market financing has played an important role in the growth of our company. Therefore, we are glad that Hungarian investors will be able to access our shares through the Budapest Stock Exchange, and thus share in the success of Wizz Air” – said József Váradi, co-founder and CEO of Wizz Air Holdings.
„We participated with great enthusiasm in the introduction of Wizz Air shares on the BETa Market, as the development of the Hungarian capital markets is a key goal for us. As market maker in BETa market products, we make securities traded on foreign stock exchanges available to domestic investors in HUF, thus relieving them of the costs and problems of foreign exchange and holding, while their money will continue to be invested in euros, dollars and from now in pounds. We are glad that when developing the BETa Market the choice fell on Wizz Air, which is one of the greatest success stories of the Hungarian economy of the last 10 years. We are looking forward to participating in the further development of the BETa market in the future” – said László Wolf, Deputy CEO of OTP Bank, at the press event.
„I am pleased to welcome Wizz Air on the Budapest Stock Exchange! The successful airline is a great example for strategic leadership and growth financing through capital markets. Moreover, Wizz Air places great emphasis on the implementation of the principles of sustainability - an area which is an important part of BSE's strategy too: we have recently published our ESG Guide, which is currently under public consultation, have updated our Corporate Governance Recommendations and today have launched new ESG ETFs. Wizz Air is a very strong brand in Hungary, and I am glad that Hungarian investors will be able to access Wizz Air shares directly on our platform!” – added Richárd Végh, CEO of the Budapest Stock Exchange.
About the BETa Market
On the BETa Market of Budapest Stock Exchange investors can trade with foreign equities. Equities bought here are identical in every way to those traded on foreign markets. Trading is conducted in Hungarian forints. Thus the BETa Market offers access to the equities of several European companies issued in foreign currency without the need to face currency conversion costs.
The liquidity of trading in foreign equities registered on the BETa Market is ensured by official market makers, who undertake to keep a continuous supply of bid and ask quotes in the order book. Market making helps investors find bid and ask quotes in the foreign equities at all times, at adequate prices.
Trading hours and periods, trading rules, as well as order types, and their expiry on the BETa Market are identical to those applied in BSE’s Equities Section. Capital gains attained on the BETa Market are subject to the same tax rates as those applicable on BSE’s equity market. Transaction clearing and settlement are executed on the BETa Market, and are done by KELER Ltd.. Meanwhile, KELER CCP Ltd. guarantees the transactions.