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APV sets maximum price of HUF 25,500 at public offering of Mol’s 1.73% stake.

APV sets maximum price of HUF 25,500 at public offering of Mol’s 1.73% stake. The State Privatisation and Holding Company (APV) set the maximum price at HUF 25,500 per share at the public offering of its 1.73% stake. We note that these shares are the last state-owned holding in the oil and gas company. We recall that in early October the board of APV decided on the general conditions for the sale, with HVB Bank mandated to organise the transaction. The shares will be sold with priority for private domestic investors. The sale is scheduled to take place between Nov 21 and Dec 1. If there are remaining shares after their demand is met, they would be sold via an auction on the stock exchange. Payment for the shares will be accepted both in cash and compensation coupons – total of 260,000 shares would be offered in exchange for compensation coupons. On Monday Mol’s share price closed at HUF 21,200 on the BSE.

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