Doverie-Invest company buys 63.89-per cent block of stocks of Moldova's commercial bank

Chisinau, 18 March /MOLDPRES/ - The Bulgarian stock company Doverie-Invest today bought a single 63.89-per cent block of stocks of the bank Moldindconbank at a public sale held on the regulated market of the Stock Exchange, the Public Property Agency (APP) has reported.          
The block of stock, put up for sale by APP, includes 3, 173, 751 shares with an overall value of 764 million lei.  
„According to the rules of the regulated market on the organization and carrying out of transactions with single blocks of stocks and shares on the regulated market of the Stock Exchange, the transaction will be finished on 22 March 2019,” APP said in a press release.  
APP, in the name of the government, on 18 February purchased 63.89 per cent of the shares newly issued by Moldindconbank, in order to subsequently sell them. Equal conditions of participation in the tender and of sale are provided both to the potential buyer, signatory of the Pre-contract and to other potential buyers, which have preliminary approval by BNM.         
Moldindconbank is a systemic bank, the second biggest one on the local market, with a share of 23.2 per cent of private people’s deposits in the banking system and with a number of about 604,000 depositors private persons. At the same time, Moldindconbank is positioned as leader of the banking system according to the number of cards in circulation on the local market, with a quota of 37.8 per cent. Also, this bank exercises a great influence on the national economy in terms of financing most economic sectors, as well as through it significant role (second position) as regards the volume of ordinary and treasury payments.    
On 20 October 2016, BNM blocked a group of Moldindconbank shareholders, who were acting jointly through an earlier acquisition and holding a substantial quota in the bank’s registered share capital – 63.89 per cent, without the preliminary written permission by BNM, thus infringing the provisions of the law on financial institutions. Following the cancellation of the suspended shares, new shares were issued, in line with the law on the capital market. These new shares were not evaluated by a famous international company and were put to sale at the exchange, but they were not demanded.