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Csányi fund buys more OTP shares

Deals

Photo by Jessica Fejos

OTP Bank chairman-CEO Sándor Csányi continued to scoop up shares of the bank he manages, according to reports. Following a purchase of 300,000 shares Monday, Csányiʼs Singapore-based CSAM Asset Management purchased an additional 75,000 OTP bank shares Tuesday, according to Hungarian news agency MTI.

OTP Bank said that Sertorius Global Opportunities Fund, managed by CSAM Asset Management, which operates under the direction of Csányi, bought the shares at an average price of HUF 6,332 on the Budapest Stock Exchange Tuesday. 

With the transaction, the Sertorius Global Opportunities Fundʼs stake in OTP grew to 0.46%.

The stake in the bank directly owned by Csányi remained unchanged, OTP noted.

Turnover in OTP shares came to HUF 9.36 bln on Tuesday; the share closed at HUF 6,400.

OTP Bank is the largest Hungarian commercial bank, and Csányi is the wealthiest man in the country.

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