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Hungary's MKB Bank lists shares on local bourse

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Hungary's MKB Bank lists shares on local bourse

MKB Bank Zrt. listed its shares on the Budapest Stock Exchange, but trading will be delayed because the lender did not attach to its application all the information necessary for the commencement of trading, the stock exchange said May 30.

The bank listed 100 million shares with a par value of 1,000 Hungarian forints per share. Trade in MKB shares is expected to start June 14, the Budapest Business Journal reported May 30.

Moody's recently upgraded MKB Bank's long-term foreign- and local-currency bank deposit ratings to B1 from B2, and changed the outlook to positive from stable, noting improved performance and metrics ahead of the lender's IPO expected to take place in 2019.

As of May 30, US$1 was equivalent to 291.56 Hungarian forints.