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MKB Bank shares to trade from June 14

Trade in shares of MKB Bank is expected to start on the Budapest Stock Exchange (BÉT) on June 14, the issuer said in a disclosure on Thursday, state news agency MTI reported.

Shares of MKB Bank were listed on the bourse from Thursday, but trade in the equities was delayed pending the issuerʼs compliance with terms, a resolution by the bourseʼs CEO shows.

"Trading in the shares is not yet possible, since...the Issuer did not attach to its application the information and documents necessary for the commencement of trading," according to the resolution.

MKB Bank has at most 90 days to verify the number of shareholders of the security series, specify the market value of the security series, submit a request regarding the first trading day, specify the listing price, and submit statements by the Central Clearing House and Depository (KELER), as well as fulfilling other disclosure requirements.

MKB Bank was restructured by the National Bank of Hungary (MNB) following its acquisition by the state, in 2014, then privatized in 2016.

Information on MKBʼs ownership structure in the lenderʼs latest annual report shows that Metis Private Equity Fund holds 35.0% of MKB shares, Blue Robin Investments 32.9%, RKOFIN 13.6%, Eirene Private Equity Fund just under 10.0%, Pantherinae Pénzügyi 3.1%, MKBʼs employee stock ownership plan (ESOP) 2.8%, and Promid Finance 2.6%.