Magyar Telekom shares suspended pending buyback auction
Telekom requested the suspension as information emerging during the auction as well as the final result, may influence the share price substantially.
In case such information is released prior to the end of the suspension period, the CEO of the BÉT may resolve to resume trading in the Issuer’s ordinary shares and related derivate instruments.
Magyar Telekom earlier announced that
it is initiating a share buyback auction through which the company intends to repurchase own shares with a maximum total value of HUF 5.2 billion for the purpose of shareholders’ remuneration.
Collecting orders will take place from 10 a.m. to 1 p.m. on Thursday, followed by the transaction period until 3.30 p.m.
Participation is voluntary for shareholders, who may offer Magyar Telekom shares in any quantity and at any price during the order collection period. The company will then start buying from the lowest offer and move upwards, to the maximum amount set.
The price paid per share may not exceed 105% of today’s opening price and may not be higher than the HUF 567 equity per share in Telekom’s audited 2019 report.
Magyar Telekom shares have a face value of HUF 100 and are traded in the BÉT’s premium category. The stock closed Wednesday at HUF 394, 0.13% higher than the previous day. The highest price in the past 12 months was HUF 464 and the lowest was HUF 335.
MTELEKOM
Cover photo: MTVA/ László Róka
