Government today approved the signing of a pre-contract for the purchase and privatization of the newly issued shares of the systemic bank BC Moldindconbank SA Thus 63.89% of the newly issued shares will be bought by the Public Property Agency (APP) at a price over 760 million lei.

After purchasing the commercial bank's share package, APP will put it on sale as a single package on the Regulated Market of the Stock Exchange through the auction. At the same time, equal conditions for participation in the tender will be ensured for potential purchasers who have prior approval of the National Bank of Moldova. In the next stage, the Public Property Agency will sign, on behalf of the Government, an antecontract with the proposed acquirer of the auction winner.

The decision of the Executive to buy and subsequently sell the newly issued shares of BC Moldindconbank SA will help to maintain the stability of the bank, facilitate the realization of the transaction with the potential investors and further stimulate the reformation of the banking system. The same procedure, which corresponds to good practices in European countries, was applied in 2018 in the case of a stock package of Moldova-Agroindbank.  

To buy newly issued shares and to cover the costs of buying shares, the Ministry of Finance will allocate APP to about 764 million lei. Money will be recovered from the investor.