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Hungary: AAK could be floated first under Gov’t program – daily

The national daily Népszabadság reported on Tuesday, that the State Motorway Management Company AAK has a good chance to be the first state-owned company whose shares the government will float on the Budapest Stock Exchange (BSE) as part of a proposed New Ownership Program announced on February 18.

Citing no source, the newspaper reported that the Hungarian Electricity Works, MVM, would likely be the second state-owned company to be floated under the program, though European Union criticism over its market position may postpone its introduction onto the Budapest Stock Exchange until 2009. Besides, the government is also considering a privatization of MVM through a capital raise, Népszabadság wrote. The newspaper reported that the initial public offerings of lottery company Szerencsejáték and postal service Magyar Posta would likely take place, but probably only over the longer term.

The government might also set up and float a comprehensive property fund containing pieces of state-owned property, though putting this fund together would likely require a long time, Népszabadság wrote. The government is expected to decide by the end of April which state-owned companies it will include in the proposed New Ownership Program. (MTI-Econews)