SunDell Nyrt received permission from the local authorities to enter the Hungarian Stock Exchange in July 2020.

SunDell is a real estate developer formed by merging three companies together with the ambition to become a REIT, ie Real Estate Investment Trust, in 2020. The Company develops residential real estates for sale purposes in Budapest along with associated commercial sections in the buildings. It has the short term goal that significant minority of its real estate portfolio should be hold for lease purposes. The ultimate beneficiary owners of SunDell are the Piukovics family and two financial investor. The professional background of SunDell is provided by the Piukovics family with almost 30 years of experience in real estate development. The aim of the listing is to professionalize the organization, ie to evolve from being a local residential developer to be a significant and diversified REIT on the Hungarian market, and to provide the opportunity for outside investors to participate in the growth story of SunDell. Although the shareholders will not raise additional capital only sell some of their shares, it is a possibility to execute an IPO and thus raise equity in the future.

The financial advisor of SunDell Nyrt during the direct listing was Concorde MB Partners.