EnglishJulius Baer Investment Management LLC - New York may increase their stake in the Hungarian-based OTP Bank, following a positive decision made last week by the Hungarian capital market regulator PSzAF. According to this decision, Julius Baer is able to increase their stake in OTP Bank above 10%. According to a report published by Julius Baer in June, the company owned 16,563,000 OTP shares equal to 5.9%. In the meantime, the stake has been increased to 10%. The news could impact the price of OTP shares on the stock exchange. OTP shares closed at 9,000 HUF on August 29th and rose to 9,450 HUF on the next day, after the PSzAF announcement. The Swiss-based investment bank Julius Baer operates several investment funds through their division in the US. OTP bank operates in nine CEE countries and has 11 million customers.
Julius Baer Investment Management May Increase Stake In OTP Bank
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Ziarul BURSA #English Section / 4 septembrie 2007
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