Anonymous seller dumps 4% of MOL shares
Anonymous investors sold 4.28 million shares, or 4% of the total ownership, of Hungarian gas and oil giant MOL yesterday, according to reports.
The price range of the sale was set below Wednesday’s close by 2.08%. The market value of the 4.24 mln shares is HUF 50-52 bln, which equals to the last three months’ trading volume of the stock, according to analysts.
While it was not clear today who made the sale, observers said it seems likely that it was Dana Gas and its parent company, Crescent Petroleum. Last year, Dana Gas sold HUF 1.6 bln worth of shares to raise cash. When that sale took place, MOL's shares dropped dramatically.
Another company capable of making such a large sale include Oman Oil, which holds more than 7% of MOL shares.
Other owners are ruled out as they are bound by MOL’s non-sale agreements, and analysts say it is unlikely that the state is selling part of its 24.6% stake.
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