MOL Marks 30 Years on Bourse

The 30th anniversary of the listing of Hungarian oil and gas company MOL on the Budapest Stock Exchange was celebrated at the bourse on Friday.

At a ceremony at the opening bell, Mihaly Varga, the governor of the National Bank of Hungary, the bourse's majority owner, acknowledged the contribution of Hungarian multinationals like MOL to the stability of the Hungarian economy. He noted that around 30,000 small shareholders own MOL shares.

Mihály Varga pointed out that Mol's three decades of stock market presence, the company's operations, and its achievements are transparent for anyone to see. This has a positive impact on the assessment of the economy as a whole and strengthens confidence in the Hungarian economy on the financial markets, the central bank governor explained.

He was of the view that adequate and well-structured household savings also play a key role in the stability of the financial system and the balanced, sustainable development of the economy.

Mol shares, which were listed on the Budapest Stock Exchange on November 28, 1995, are traded in the Premium category. Their price peaked in 2007 at HUF 3,876.875, and their current market capitalization is close to HUF 2,400 billion.

The Mol Group is now active in more than 30 countries, with an international workforce of 25,000.

Over the past decades, the company has grown into a regional energy player, while committing itself to becoming carbon neutral by 2050 and shaping a low-carbon circular economy in Central and Eastern Europe.

"We entered the Budapest Stock Exchange thirty years ago, and since then, we have proven the same thing every day: Mol is capable of creating value in any market environment. The world has changed many times over the past three decades, but our commitment to performance has remained constant. Our stability is not a promise, but the result of consistent work. Our presence on the capital market continues to oblige us to build Mol's future responsibly, transparently, and with a long-term perspective over the next thirty years," according to Zsolt Hernádi, Chairman and CEO of the MOL Group, quoted in the announcement.