MOL settles call option for almost 6% of shares with SPV Magnolia
wikimedia commons
Hungarian oil and gas company MOL said late yesterday that it had physically settled a call option for 6,006,495 of its shares, conferring a 5.75% ownership stake, at a price of €45.9905 per share, Hungarian news agency MTI reported.
(Photo: Wikimedia Commons)
MOL said early in February that it would terminate a swap agreement and exercise the call option to purchase a little more than six million of its shares from special-purpose vehicle Magnolia “at market price set out in the agreement”.
MOL sold the six million shares to Magnolia at a price of HUF 20,515 per share ten years earlier. Magnolia then issued €610 in securities that could be exchanged for the shares. The exchangeable securities carried an annual coupon of 4%.
MOL closed at HUF 16,250 yesterday or about €52.38, calculating with the National Bank of Hungaryʼs fixing for the day.
Lender Liquidity Increases Further
Hungary Condemns Iranian Attack on Israel
Home Rental Rates in Hungary Rise 11.7% in March
Tribe Hotel Budapest Stadium Recognized at LIV Hospitality D...
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.
