A new auction at Moldova Stock Exchange for the sale of 63.89% of the newly issued Moldindconbank shares at the total initial price of 760.1 million lei was announced

A new auction at Moldova Stock Exchange for the sale of 63.89% of the newly issued Moldindconbank shares at the total initial price of 760.1 million lei was announced

According to the Bank's Management Board, the shares are offered for sale by a single package, starting on July 17, 2018, for a period of three months. The voice auction for the sale of these securities will be held on the Stock Exchange of Moldova during October 4 - 17. The matter concerns the sale of Moldindconbank’s newly issued 3173751 ordinary registered shares of the I class (63.89% of the authorized capital). The initial price for the sale of shares remained the same and is 239.5 lei per share. The shares offered for sale can be purchased by one buyer or a group of persons acting in concert, who prior to the relevant acquisition have received approval from the National Bank of Moldova in accordance with the requirements of the law. It should be noted that the previous similar auction was held at Moldova Stock Exchange during July 3 - 16, 2018, but there were no buyers for these securities. As a result, the National Bank of Moldova extended for 3 months the period set for the sale of 63.89% of the newly issued shares of Moldindconbank in a single package. As previously reported, this bank is under the early intervention regime applied since October 20, 2016, due to the detection of concerted action by a group of persons who acquired and owned a significant stake amounting to 63.89% in the authorized capital of the bank without the NBM's prior written permission, thus violating the provisions of the law on financial institutions. By a decision of October 20, 2016, the NBM appointed temporary heads in the Mondindconbank, whose powers were repeatedly extended (the last time the mandate of the temporary heads of Moldindconbank was extended for another 3 months, starting July 20, 2018). It should be noted that the specified package of shares belonging to a group of persons whose concerted activity was determined by the NBM resolution of October 20, 2016, was seized in the framework of the criminal case. Later, during October 2017, the custodians of securities and the registration company informed the bank about the lifting of the arrest. In January 2018, in accordance with the provisions of the law, Moldindconbank's board approved the decision to annul certain issued shares and issue new shares amounting to 63.89% of the bank's authorized capital. They were put up for sale at the initial price, which was determined by a recognized independent international company. //18.07.2018 - InfoMarket.

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