The deadline for the sale of three packages of Moldasig JSC newly issued shares (with a total share of 80%) has been extended by another three months - until July 8

The deadline for the sale of three packages of Moldasig JSC newly issued shares (with a total share of 80%) has been extended by another three months - until July 8

The decision was adopted by the administrative council of the National Commission for the Financial Market. Let us recall that the previous time these three packages were put up for auction on the Stock Exchange was March 18 - 22, 2019, but there were no buyers for them. Then, the total initial value of all the shares offered for sale (480 thousand units) was about 21.7 million lei against 44.3 million and 31 million lei in the previous two offers. In particular, in March, the following was offered for sale in uniform packages: 390245 ordinary registered (about 65.04%), newly issued class I shares of Moldasig at an initial price of 43.06 lei per share (total initial amount of sale - more than 16.8 million lei), 59855 ordinary registered (9.98%) newly issued class I shares at an initial price of 43.06 lei per share (total initial sale amount - over 2.58 million lei). Earlier, these Moldasig securities in the mentioned packages were offered for sale at the price of 318.88 lei per share, 239.66 lei, 87.89 lei, and the last time - 61.52 lei per share. In addition, 29900 thousand ordinary registered class I shares (4.98%) of Moldasig were also offered for sale at a lower price of 76.57 lei per share (total initial selling price of about 2.29 million lei), which at first were sold at a price of 425.17 lei, 156.25 lei, and later – at a price of 109.38 lei apiece. It is emphasized that new packages of Moldasig insurance company shares can be acquired only by persons who have received prior permission of the National Commission for the Financial Market. As InfoMarket agency reported earlier, on December 6 and 14, 2016, the NCFM obliged a number of Moldasig majority shareholders to sell their shares in this joint-stock company. In particular, NCFR first obliged the following 8 Moldasig majority shareholders to sell their shares, as they owned the majority stake with the right to vote (65.03%): Prodromos Limited, Denton Enter-Prise, Intersnab, Kirkliston Management Limited, Appolo Capital Invest, Peklo Management, Semgroup-Systems, and Bristol Experts. Later, NCFM obliged another 2 Moldasig shareholders, with a total stake of 9.9759%, to sell their shares: Wesna and Ewra, who owned 4.9917% and, respectively, 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 due time, the executive body of Moldasig was obliged to cancel their shares, issue new shares and put them up for sale. It should be noted that from April 10 to April 14, 2019, another Moldasig block of shares was put up for sale on the Stock Exchange. The matter concerns 61.2 thousand shares (10.2%) of Moldasig, which belong to Banca de Economii, which is in the process of liquidation. This stake in Moldasig is sold for 19.78 million lei (323.34 lei each). Let us recall, the authorized capital of Moldasig is 60 million lei and is divided into 600 thousand shares worth 100 lei. In 2018, Moldasig collected insurance premiums worth 203.07 million lei (the company's share in the insurance market was 13.3%) and paid indemnities worth 51.5 million lei (9.6%). At present, the list of major shareholders of Moldasig includes: Banca de Economii - 10.2% and the state enterprise “Railways of Moldova” - 5%. // 09.04.2019 - InfoMarket.

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