The CEO of the BÉT obliged the issuer to disclose the extraordinary information necessitating the suspension of trading in accordance with the exchange regulations.
Trade in shares of SET Group resumed later after the company said it had paid a number of oversight fines to expand its business prospects, state news wire MTI reported. SET Group said it paid 11 fines, totaling over HUF 46 million, levied by the financial market watchdog between 2013 and 2018. SET Group noted that the fines were levied while the company was under its former management.
SET Group said liquidation procedures connected to the fines that were launched against the company had prevented it from signing certain business contracts until now. The company added that it still owes “significant accrued interest” on the fines, and said it had asked the National Bank of Hungary (MNB) to remit the charges.
SET shares closed on Tuesday up 6.55% at HUF 244. The share price has risen a little more than 122% in the year to date.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
