Est Media Declines for Third Day After Auction of Shares Fails
Est Media Vagyonkezelo Nyrt., a Hungarian entertainment company, declined for a third day after an auction of its shares failed.
The shares dropped as much as 11 percent to 86 forint and traded 6.2 percent lower by 10:47 a.m. in Budapest at 91 forint, 1 forint more than its lowest ever closing price on April 11.
No bids were accepted at the auction on the Budapest Stock Exchange on April 20, broker Equilor Befektetesi Zrt., which conducted the sale, said in a statement sent by e-mail. The company offered 2.7 million shares at the auction.
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