The government has sold 33 million FHB shares at HUF2,025 per share for total proceeds of HUF66.8 billion.

Finance minister Janos Veres has said that the sale has been completed through an accelerated equity offering and no investor has acquired more than 5% stake.

Mr Veres said: We probed strategic investors early summer, including on the price, and they were only willing to pay significantly less.