The Bank of New York has been selected as successor depositary by MOL Hungarian Oil and Gas Plc. for its global depositary receipt (GDR) program.
The GDRs, each representing one ordinary share, trade on the International Order Book in London and the ordinary shares are listed on the Budapest Stock Exchange, the Warsaw Stock Exchange and the Luxembourg Stock Exchange.
The company is an oil and gas group in Central and Eastern Europe, which activities include exploration and production of crude oil, natural gas and gas products; refining, transportation, storage and distribution of crude oil products in retail and wholesale markets; and importation, transmission, storage and wholesale trading of natural gas and other gas products.
“We are pleased that The Bank of New York is now overseeing our GDR program, said Michel-Marc Delcommune, group chief strategy officer of MOL. “We feel there is an opportunity for program growth and we are confident that The Bank of New York has the knowledge and resources necessary to help us achieve our goals.”