BSE switches to Xetra; Varga says no MVM share float soon
The Budapest Stock Exchange (BSE) started using the Xetra trading system this morning, the bourse thereby joining the trading platform already employed by the other three members of the Central European Stock Exchange Group (CEESEG): the Wiener Bourse, the Prague Stock Exchange and the Ljubljana Stock Exchange.
On this occasion, trading on the BSE was launched by Economy Minister Mihály Varga.
Xetra replaces the MMTS trading system, which the BSE had used for 15 years.
Answering a question as to whether there is a chance in the coming years that shares of state-owned electricity company MVM or other state-owned company shareholdings would be floated on the exchange, Varga stated he cannot see a possibility for the listing of MVM shares at the moment, but this cannot be ruled out in the long term. Varga added that floating shares at the stock exchange requires extensive preparation and that MVM is currently involved in several acquisitions that have engaged the company’s resources.
Varga said that the rise in funding resources stemming from the introduction of the Xetra system could provide minority state-owned Hungarian companies with the opportunity to float shares at the BSE.
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