BUDAPEST (Reuters) -Hungary's second largest lender MBH Bank will sell 7% of its shares in a public offering starting from Tuesday to broaden the investor base and increase trading activity, the bank
MBH Bank Announces 7% Stake Public Offering
BUDAPEST (Reuters) -Hungary's second largest lender MBH Bank will sell 7% of its shares in a public offering starting from Tuesday to broaden the investor base and increase trading activity, the bank said in a statement on Monday.
MBH was created by the 2020 merger of three banks - state-owned Budapest Bank, MKB Bank and savings group Takarekbank. Hungary's market leader is OTP Bank.
"The bank launches a public sale of treasury shares amounting to a 7% stake in the bank at a maximum share price of 3,848 forints per share," MBH said. It said retail investors would get a 10% discount relative to institutional investors from the final sale price.
The transaction will start on Tuesday and run until December 12 and a total of 22.577 million shares in MBH will be offered.
(Reporting by Krisztina ThanEditing by Tomasz Janowski)
