Hungary's Central Bank Investigates MOL Share Transactions Amid Insider Trading Allegations

The National Bank of Hungary is investigating potential insider trading involving MOL shares, following a report filed by the association of retail stock investors TEBESZ. MOL maintains that all share transactions were legally compliant. The investigation's findings could impact market confidence, as MOL's stock has already seen a decline.

The National Bank of Hungary has initiated an investigation into allegations of insider trading concerning MOL shares. The bank disclosed details of its probe in response to Reuters' inquiries, emphasizing its focus on potential violations within specific capital market transactions involving MOL.

Despite the ongoing investigation, MOL has asserted that its share dealings were conducted lawfully and communicated through appropriate legal channels. MOL insists on its adherence to market transparency and is cooperating fully with the central bank throughout the process.

Shares of MOL have declined on the Budapest bourse amid these developments, underperforming the broader market. The inquiry follows a report alleged to have been filed by TEBESZ, which cited concerns over share sales by MOL officials post-January crude shipment disruptions on the Druzhba pipeline.

(With inputs from agencies.)