Are you sure?

Hungary's OTP sells 4.5 mln own shares

Hungary's OTP Bank sold 4.5 million of its own shares at Ft 6,401 per share, the bank said in a statement.

OTP also signed an option contract which gives it the right to buy 4.5 million of its own shares until Nov 27, 2008, it said, giving no further details about the deals.

The shares represent 1.6% of OTP's shares listed on the Budapest Stock Exchange.

The deal generated Ft 28.8 billion ($189 million) for the bank.

OTP now holds 6.02 million of its own shares. The members of OTP group held 2.1 million OTP shares as of May 29.

OTP's shares closed flat at Ft 6,299. (Reuters)