Finances

MOBIASBANCA SMALL STOCKHOLDERS SOLD THEIR 1.57% SHARES

31 octomber, 2019

The transaction on selling 156,630 shares (1.57% of the issue) of Mobiasbanca – OTP Group took place in the Moldova Stock Exchange on Thursday.

The shares were sold at a price of 152.57 lei per share within a public proposal in the secondary market.

In early September, the Hungarian OTP Bank Nyrt came to Mobiasbanca small shareholders with a proposal to buy from them 3.3% of shares. In summer 2019 the Hungarian group bought majority packages from two largest bank stockholders – Sociate Generale (76,69%) and the BRD – Group Societe Generale (20%) shares at a price of 1.47 billion lei (74.7 million euros).

The investor proposes the same price (152.57 lei) per share with nominal value of 10 lei it paid to the two majority shareholders to holders of the remaining 325,239 shares. Tender proposals on buying shares are made in accordance with the Moldovan legislation, which obliges the investor, which bought over 50% shares, to propose buying the rest of shares at the same price it bought majority packages. The tender was conducted on October 2 through 29.

Infotag’s dossier: In 2018, the Mobiasbanca portfolio grew over 11%. The bank’s market share grew to 15.2% from 14.5%. The net profit approached 300 million lei. The return on equity (ROE) accounted for 19%. The bank’s capital reached 1.77 billion lei as of June 30, 2019.

The OTP Group is a Hungarian bank group, which is working in the spheres of financial, insurance, investment and banking business. The group is regarded as one of key suppliers of financial services in the Central and Eastern Europe.

Over 13 million physical persons and corporations are using the OTP Group services. Its bank products are available in 1400 offices and 3900 ATMs, as well as online in nine countries of the Central and Eastern Europe. The group’s staff accounts for over 41 thousand employees. The group is based on the OTP Bank – the Hungary’s largest bank, holding 25.6% of country market. The bank is holding the 952nd place in the list of world largest public companies (in 2018), having revenues of US$4 billion, net profit of US$1 billion (788th place), assets worth US$51 billion (586th) and market capitalization of US$10.9 billion.

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