The country's asset-sales agency will offer the stock to local, individual investors and auction off remaining shares via the Budapest Stock Exchange (BÉT), the agency said in a statement yesterday. HVB Bank Zrt was previously chosen to manage the sale of the stake in Hungary’s biggest oil company, MOL Nyrt, which is valued at around Ft 38.2 billion ($176.2 million), based yesterday's closing price of Ft 20,250 in Budapest. Hungary, which has been struggling to control the European Union's largest budget deficit, is seeking to sell stakes in several companies, including the cargo unit of railway company MÁV Zrt, national carrier MALÉV Zrt and mortgage lender Földhitel és Jelzálogbank Nyrt. The state will retain a “golden share” in MOL, giving it the right to veto some decisions. (Bloomberg)
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.