Latest news with #MBHBankPlc
Yahoo
28-03-2025
- Business
- Yahoo
Hungary's MBH Bank Said to Tap Citi as State Mulls Stake Sale
(Bloomberg) -- Hungary's MBH Bank Plc is working with advisers at Citigroup Inc. on a potential share offering, according to people familiar with the matter, as the country mulls exiting its second-largest bank. They Built a Secret Apartment in a Mall. Now the Mall Is Dying. Why Did the Government Declare War on My Adorable Tiny Truck? How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. These US Bridges Face High Risk of Catastrophic Ship Strikes The Budapest-listed group and its shareholders are considering launching a transaction as soon as this year, said one of the people, who asked not to be identified because the matter is private. Deliberations are at an early stage and there's no guarantee that an offering would proceed, the people said. Representatives for Citigroup and MBH declined to comment. The government didn't immediately respond to a request for comment. Entities tied to the Hungarian government and Prime Minister Viktor Orban's business allies are among the lenders biggest shareholders. Corvinus BHG, which is owned by the state, had a 20% stake at the end of December, according to a company document. The government said in December it was considering selling all the state's stake after unloading some of its shares. The company's free float was around 14% at the end of February, according to the stock exchange. MBH was created by the merger of MKB Bank, Budapest Bank and Takarekbank in 2023 to create Hungary's second-largest credit institution after OTP Bank. Until late last year, a holding company owned by the government and other shareholders controlled a majority of MBH's shares. The holding was then dissolved in a shake-up, giving the shareholders direct ownership, according to company filings, enabling the government to sell stakes in the market. Shares in MBH traded at 6,600 forint by the close in Budapest on Wednesday, giving the company a market capitalization of around $5.7 billion. --With assistance from Zoltan Simon. Business Schools Are Back Google Is Searching for an Answer to ChatGPT A New 'China Shock' Is Destroying Jobs Around the World The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? How TD Became America's Most Convenient Bank for Money Launderers ©2025 Bloomberg L.P.
Bloomberg
26-03-2025
- Business
- Bloomberg
Hungary's MBH Bank Said to Tap Citi as State Mulls Stake Sale
Hungary's MBH Bank Plc is working with advisers at Citigroup Inc. on a potential share offering, according to people familiar with the matter, as the country mulls exiting its second-largest bank. The Budapest-listed group and its shareholders are considering launching a transaction as soon as this year, said one of the people, who asked not to be identified because the matter is private. Deliberations are at an early stage and there's no guarantee that an offering would proceed, the people said.
