MOL Hungarian Oil and Gas Plc. today officially started public trading in Poland with introducing its ordinary registered A series shares to the primary market of the Warsaw Stock Exchange (WSE). MOL will be one of the biggest company on the WSE by market capitalisation, which is around 5,7 bn EUR.
With listing its shares on the WSE MOL would like to extend and better diversify the company’s shareholders base and make MOL shares available to the Polish investor community. MOL believes that the company’s strong business performance and future growth potential makes its shares attractive for Polish investors.
The first trading day was started by a traditional bell ringing ceremony with the attendance of the Chairman of Supervisory Board of MOL, Mr. Mihaly Kupa and MOL’s Chief Financial Officer, Mr. Jozsef Molnar.
The decision to list MOL on the WSE is MOL’s recognition of the importance WSE plays in the region - so far in 2004 more than 30 companies have debuted in Warsaw, which is very impressive compared to other stock exchanges. MOL’s intention was to diversify and strengthen its shareholder base and to make MOL shares available to the Polish investor community.
MOL deems the Polish market to be a key market in Central Europe due to its size and growth potential. Therefore MOL is interested in taking the forthcoming opportunities in Poland, including the listing its shares on the stock exchange. MOL’s strategic objective is to focus on value creating growth in the region; by taking both organic and inorganic growth options.
The Budapest Stock Exchange will remain the primary market for MOL`s shares.
MOL`s GDRs are also listed on the Luxembourg Stock Exchange and traded on the London Stock Exchange`s market system, the International Order Book (IOB).
