Company court registers 2% reduction in MOL share capital
The company court has registered a 2% reduction in the share capital of Hungary’s oil and gas giant MOL, according to a statement on the website of the Budapest Stock Exchange, Hungarian state news agency MTI reported.
The reduction brings the number of MOL ‘A’ series shares down to 2,090,381, and took place through the withdrawal of treasury shares.
MOL’s treasury share stock rose to 7.2% this year after it settled a call option for shares conferring a 5.75% ownership stake with special-purpose vehicle Magnolia. MOL had sold the shares to Magnolia ten years earlier.
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.