MNB: Trade in Norbi Update, TR Investment shares continues
Trading in the shares of Norbi Update and TR Investments on the Budapest Stock Exchange can be continued, the National Bank of Hungary (MNB) announced today, according to reports. Suspension in trading was issued in April and May, respectively.
The central bank had ordered the suspension in the trading of the shares, charging the companies with violations of the mandatory disclosure rules, Hungarian news agency MTI reported. MNB said the auditorʼs report on Norbi Updateʼs 2014 consolidated financial results failed to meet requirements while TR Investment did not publish 2015 consolidated financial results at all, MTI added.
The suspension was lifted after both the companies fulfilled their disclosure commitments, the central bank said. However, MNB noted that the auditor of TR Investmentʼs financial report attached a dissenting opinion to the document voicing concerns that it does not show a realistic picture of the companyʼs financial position at the end of 2015, MTI reported.
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