Hungary Will Open Limited Stock Exchange
The communist government will open a limited stock exchange in Budapest on Jan. 1 with only members permitted to buy and sell shares, according to the head of the securities trade secretariat.
The planned stock exchange is to open at the same time that a new law on companies goes into effect.
Government officials have said the law, now in the drafting stage, will be presented to Parliament in the fall. It is to put state, cooperative and private enterprise firms on an equal footing and limit state monopolies in some areas.
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