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Government decides to sell FHB stake

In Hungary

The government approved on Tuesday a decision to offer the state's 50%-plus-one-vote stake in mortgage bank FHB Zrt to a strategic investor in a tender, the Finance Ministry said late on Tuesday.

The state will offer its 50%-plus-one-share stake of the bank's series A shares under the decision, but it could also decide to sell its 4.11% stake of FHB's series B shares.
FHB series A shares were floated on the Budapest Stock Exchange (BÉT) in 2003, but the first big owners aside from the state appeared only this year. Insurer Allianz now owns 8% of shares and Silvermist Estate SA holds 7.58%. The State Privatization and Holding (ÁPV) Zrt announced a week earlier that five applicants have been invited to a tender to serve as consultant in the bank's privatization. The winner of the single-round closed tender will organize the sale of the series A shares and possibly the series B shares as well.

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