MOLDOVAN GOVERNMENT PUTS UP 41.09% MAIB SHARES FOR SALE

The Republic of Moldova’s Public Property Agency has put up for sale 41.09% shares of the country’s largest financial institution – Moldova Agroindbank (MAIB) at a starting price of 1,059.3 lei per a 200-lei share.

As was already reported by Infotag, this package of re-issued MAIB shares were obtained by the Agency at the Moldovan state-regulated public market in mid-July, when the Agency concluded a preliminary agreement with the consortium of foreign investors led by the European Bank for Reconstruction and Development (EBRD). The investors obtained from the National Bank of Moldova (NBM) permission for purchasing the said MAIB shares.

In conformity with a law-stipulated procedure, the auction on selling the 41.09% MAIB shares will be held on October 2-4, 2018. The shares will be sold as a solid package that will go to who offers (or offer) more. If there are no bids for buying the shares, the package must be bought by the above-mentioned consortium, which, besides the EBRD, includes also two foreign investment funds – Invalda INVL (Lithuania) and Horizon Capital (USA).

Infotag's dossier: This week’s latest transaction with MAIB papers took place at a price of 1,600 lei per a share, though the balance cost of a share exceeds 3,700 lei. The MAIB capital is standing at nearly 4 billion lei, MAIB assets exceed 22.5 billion lei, and the bank’s profit in the first half of 2018 was over 326 million lei.