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MOL shares fall 6 pct on report of big share auction
June 26, 2014 / 7:27 AM / 3 years ago

MOL shares fall 6 pct on report of big share auction

BUDAPEST, June 26 (Reuters) - 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 a Wednesday auction of up to 4.3 million MOL shares by unspecified investors.

At 0718 GMT, MOL shares were down 5.9 percent at 11,970 Hungarian forints, underperforming the blue chip index, which was down 1.8 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.

Spokesmen for MOL and Citigroup were not immediately available for comment. (Reporting by Gergely Szakacs; Editing by Mark Potter)

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