In line with earlier announcements, MOL sold 6.0 million treasury stocks to Channel Islands-based offshore company Magnolia Finance Ltd at a price of HUF 20,515 per share yesterday. The value of the deal was HUF 123.2 billion (more than USD 600m), boosting the daily turnover of the Budapest Stock Exchange to its highest level this year. Following the deal, the number of shares held by MOL has decreased to 1.4m or 1.3%. Since the move was widely expected in the market, it had no impact on the share price yesterday. We keep our Buy recommendation on the stock, with our target price of HUF 25,730.