March 9, 2016 / 9:14 AM / a year ago

Hungary approves strategy to boost flagging stock market

BUDAPEST, March 9 (Reuters) - The board of the Budapest Stock Exchange has approved a new strategy for 2016 through 2020 to end a dearth of listings and reverse a fall in turnover seen over the past years, it said on Wednesday.

"Right now the most pressing task is to help successful listings by having companies go public that meet the high quality standards required to strengthen investor confidence," it said in a statement.

"It is also important that listings take place at pricing levels that provide room for future price increases," it said.

The bourse, in which the central bank acquired a controlling stake last year, will aim to boost the number of large liquid shares and use European Union funds to develop the capital market in close cooperation with the government, it said.

It will aim for five share or corporate bond listings per year and boost stock market capitalisation to about 30 percent of gross domestic product from less than 20 percent today. (Reporting by Gergely Szakacs and Marton Dunai)

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