Hungarian privatization agency AVP said on Thursday that it planned to sell its remaining 1.73% stake in MOL by the end of this year in a public offering. The stake will be offered primarily to household investors and shares not subscribed by household customers will be sold via a stock exchange auction, the APV said in a statement. The 1.9 million shares are worth around HUF 38.5 bn (US$177.6 m).
Our view: It was widely expected that the government plans to sell its remaining stake in MOL in a public offering but the exact time was unknown. The sale would mean the end of MOL's privatization as it would leave the government with only a single golden share, which gives it veto power in certain key issues.