Public Property Agency bought new-issued shares of Moldindconbank

Chisinau, 19 February /MOLDPRES/- The Public Property Agency (APP), on behalf of the government, purchased 63.89% of the newly issued shares of Moldindconbank on 18 February at the Moldovan Stock Exchange. The price paid for the single share package exceeds 760 million lei.

The data of the Moldovan Stock Exchange show that the 3,173,751 shares were purchased at the price of 239.5 lei. Sources from APP said that the shares will be sold on the market of the Stock Exchange, through the strike auction, as a single package. Equal conditions for participation in the auction and sale will be offered to both the potential buyer, the signatory of the Pre-Contract and other potential acquirers that have prior approval of the National Bank of Moldova.

The government approved at the 30 January meeting the draft Pre-Contract and the draft sale-purchase contract for the new shares of Moldindconbank with the potential purchaser, which has the prior approval of the National Bank of Moldova for their purchase.

So far, only a Bulgarian investor DOVERIE UNITED-HOLDING AD has got permission to do so. Representatives of the Bulgarian company said that the latest developments in the Moldovan banking system have led them to come up with investments in our country.

Moldindconbank is a systemic bank, being the second largest bank on the local market, accounting for about 23.2 percent of the deposits of private people in the banking sector and about 604 thousand individual depositors. At the same time, Moldindconbank is ranked as a leader of the banking sector according to the number of cards in circulation on the local market, with a share of 37.8%.

On 20 October 2016, the BNM blocked a group of shareholders of Moldindconbank, acting jointly with the prior acquisition and holding of a substantial share in the bank's share capital, amounting to 63.89% without the prior written permission of the BNM, thus violating the provisions of the financial institutions law. Following the cancellation of the suspended shares, new shares were issued in accordance with the provisions of the capital market law. The new shares have been evaluated by an international company and have been put up for sale on the stock exchange, but not required.