(Adds MOL statement, equity trader, updates market reaction)
BUDAPEST, June 26 Shares in Hungarian oil and
gas group MOL fell as much as 6 percent in early trade
on Thursday, with traders citing a press report of an auction of
up to 4.3 million MOL shares by unspecified investors on
At 0731 GMT, MOL shares were down 6 percent at 11,960
Hungarian forints, underperforming Budapest's blue chip
index, which was down 1.9 percent.
The business daily Napi Gazdasag reported that 4.3 million
MOL shares, representing over 4 percent of MOL's share capital,
were offered up for sale in a price range of 11,800 to 12,200
forints. It said Citigroup was lead manager for the transaction.
"At this very moment we cannot give you more information
than what is currently in the market," MOL spokesman Tamas Berzi
said in an emailed response to Reuters. He declined further
A spokeswoman for Citigroup in Budapest was not immediately
available for comment.
"We have read that one or more investors have sold shares
and the transactions took place at the lower end of the price
range," said an equities dealer in Budapest, who did not wish to
"The falls are driven primarily by this, it was a pretty big
chunk of shares so further falls cannot be ruled out."
(Reporting by Gergely Szakacs; Editing by Mark Potter and Susan