80% of the shares of Moldasig insurance company are again put up for sale on the Moldovan Stock Exchange in three large packages at a lower initial cost

80% of the shares of Moldasig insurance company are again put up for sale on the Moldovan Stock Exchange in three large packages at a lower initial cost

The total initial value of all shares offered for sale (480 thousand units) is estimated at approximately 31 million lei against 44.3 million lei within the previous offer. The period of the new auction is December 3 - 7. In particular, in single packages, there are put for sale: Moldasig’s 390245 ordinary registered (about 65.04%) newly issued I class shares at the initial price of 61.52 lei per share (the total initial sale amount is more than 24 million lei), 59855 ordinary registered (9.98%) newly issued I class shares at an initial price of 61.52 lei per share (the total initial sale amount is over 3.68 million lei). Previously, these packages were offered for sale at a price of 318.88 lei, 239.66 lei, and for the last time - 87.89 lei per share. In addition, 29.9 million ordinary registered I class shares (4.98%) of Moldasig were also offered for sale in a single package at a lower price - 109.38 lei apiece (the total initial selling price was 3.27 million lei), which were previously sold at a price of 425.17 lei, and later - 156.25 lei apiece. The auction period is December 3 - 7 this year. It is underlined that only those persons who have received preliminary permission from the National Commission for the Financial Market can purchase new shares of Moldasig. It should be noted that the previous auction for the sale of 80% stake in Moldasig in three large packages was held from July 16 to July 27. The authorized capital of Moldasig is 60 million lei and is divided into 600 thousand shares worth 100 lei. The company's net profit in 2017 amounted to 18.33 million lei versus 0.3 million lei a year earlier. As InfoMarket agency reported earlier, on December 6 and 14, 2016, the NCFM obliged several majority shareholders of Moldasig to sell their shares in this joint-stock company. First, the NCFM required the 8 of the majority Moldasig shareholders, who owned a majority stake in the company with voting rights (65.03%), to sell their shares. These shareholders were: Prodromos Limited, Denton Enter-Prise, Intersnab, Kirkliston Management Limited, Appolo Capital Invest, Peklo Management, Semgroup-Systems, Bristol Experts, and later - other two Moldasig shareholders with a total stake of 9.9759%: Wesna and Ewra, which owned 4.9917% and, accordingly, 4.9842% of the company's shares. Within 3 months after the decision of the NCFM, these companies had to sell their shares in Moldasig. Since the shareholders did not sell their shares in a timely manner, the executive body of Moldasig had to cancel their shares, issue new shares and put them up for sale. //19.09.2018 - InfoMarket.

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