FINCOMBANK PUTS UP 475.478 SHARES FOR SALE

The FinComBank puts up for sale a package of 475,478 shares with a nominal value of 100 lei at 260.66 lei each. The auction will be held from October 23 to November 5 at the Moldovan Stock Exchange.

The new shares have been issued after on July 29, the National Commission for Financial Market decided to exclude 475,478 Fincombank ordinary nominal shares from the state register of the Central Bank; most of the shares belonged to Oleg Voronin's family.

In January, the NBM Executive Committee blocked this package of shares (36.15%) of a group of Fincombank shareholders, establishing that it has acquired and owns a significant share in the authorized capital without NBM written permission of NBM. The regulator stated that these shareholders act in concert thus they violated the regulations of the Law on banks' activity. The shareholders were offered six months to sell out their shares, but it failed to happen and the actions were cancelled.

The new actions, put up for sale, can be purchased by one buyer or a group of people acting in concert, who have received a prior permission from the NBM, before the purchase of the package.

Infotag's dossier: According to the economic and financial magazine "Finance Banks", on June 30, FinComBank's profit amounted to 32 million lei, its assets - 3.3 billion lei, the capital - 552 million lei. Following June results, the return on assets (ROA) was 1.98% and return on equity (ROE) was 12.13%. The Bank has 91 branches.