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Company court registers 2% reduction in MOL share capital

Automotive

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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.

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