Thus, the total amount of the deal may exceed 137.5 million lei. The auction will be held from May 12 to May 23. According to the legislation in force, the newly issued shares of Moldasig can be purchased only by persons who have obtained a preliminary authorization from the National Bank of Moldova.
It should be noted that 80% of the newly issued shares of Moldasig were repeatedly offered for sale, but were not sold. The last auction was held from February 7 to February 20. The initial selling price of the shares was 358.1 lei per unit. The authorized capital of Moldasig amounts to 60 million lei and is divided into 600 thousand ordinary registered shares worth 100 lei. At present, 480 thousand issued shares are treasury shares, which is 80% of their total number.
Among the owners of Moldasig shares is still Banca de Economii, which is in the process of liquidation (10.2%), and another 5% is owned by the state-owned state enterprise Railroad of Moldova.
In July 2019, the NCFM introduced a temporary special administration in Moldasig. 80% of the company’s shares were seized in the context of the “billion theft” investigation, and then it was decided to sell the shares from the additional issue issued in place of the seized ones, which were not sold by their owners.
Since the tenders for the sale of these shares were not successful, 80% of the newly issued shares were transferred to the direct management of NCFM to fulfill all the rights and obligations of the shareholder. However, based on the requirements of the current legislation, their real beneficiary was then named as the company’s administrator – the company’s CEO Victor Koade.
