CEO Sandor Csanyi has sold 282k shares (at HUF 5,272 per share) on Monday and 319k shares (at HUF 5,380 per share) yesterday for a total of approximately US$ 17m. He still owns 2.5m shares or US$ 73m via his privately owned company Bonitas.
The news of insider selling in such significant amounts appeared to see the stock fall yesterday afternoon and there may be a negative reaction today. However, it has been reported that Bonitas does not plan any further sales in the near future and that the proceeds it has taken will be used for concrete transactions. According to webportal portfolio.hu, citing Napi Gazdasag, Csanyi’s dairy interest Sole-Mizo plans to buy the Turo Rudi plant of in Marcali.