The MNB found that company representative Norbert Schobert illegally influenced the market by providing false information to the public on the planned listing of the shares of the company abroad, the expected future development of the share price and on revenues from exports.

The company also broke rules by disseminating information through Facebook and other unauthorised media.

Norbi Update shares were delisted from the Budapest stock exchange at the company’s request last month.

Source: Hungary Around the Clock

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