The Government approved the signing of a pre-contract for the purchase and denationalization of the newly issued shares of the bank of systemic importance BC Moldindconbank. The 63.89% shareholding will be bought by the Public Property Agency at the price of over 760 million lei, IPN reports.

After the shareholding is purchased, the Public Property Agency will exhibit it for sale as an undividable holding on the regulated market of the Moldova Stock Exchange, at outcry auctions. Equal conditions for participation in the auction will be ensued for potential buyers that have the preliminary approval of the National Bank of Moldova. At the next stage, the Public Property Agency will sign, in the name of the Government, a pre-contract with the buyer that will be chosen winner of the auction.

According to the authorities, the decision to buy and sell the newly issued shares of BC Moldindconbank will contribute to maintaining the stability of the bank, will facilitate the transaction with potential buyers and will stimulate the banking system reform. The money allocated by the Government will be recovered from the investor.

The same procedure was applied in 2018 in the case of a shareholding of Moldova-Agroindbank. The sale of shares this way offers more guarantees to the potential investors.

The European company DOVERIE UNITED HOLDING AD recently expressed its interest in purchasing the shares of Moldindconbank, but the auction is open to other investors too.