OTP fund managerʼs CyBERG stake over 5% disclosure threshold

Banking

jessica fejos

The fund manager of OTP Bank, Hungaryʼs biggest commercial lender, now holds a 5.1% stake in CyBERG, a company listed on the Budapest Stock Exchangeʼs Xtend platform that has unveiled a plan to monetize digital services at restaurants and cafés, according to a report by state news wire MTI.

Image by Jessica Fejos

CyBERG said in a disclosure that the OTP Climate Change 130/30 Shares Fund now holds 1.92% of its shares, and the OTP Absolute Yield Open-ended Derivatives Fund holds 3.18%.

CyBERGʼs "Food for Free" business model generates additional revenue through ads, commissions, cross-selling and subscription-only content. Revenue from such digital services could overtake food service revenue once the model reaches critical mass, according to CyBERGʼs strategy.

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