Hungary's state privatisation agency APV will auction 1.734 million MOL shares on the Budapest Stock Exchange today, APV said in a statement on Tuesday. The auction will be held between 8:30 and 11:00 GMT.
Our view: Total market value of the stake is US$195m, which makes it very unlikely for us that domestic investors would be able to subscribe the total amount. We have a strong suspicion, however, that Russian investors will appear and finally a big junk – or even the entire amount – of the shares would be sold. The auction might have a moderate negative impact on MOL share price today.