According to the National Financial Market Commission (CNPF), the average value of an issue has significantly increased, from 7.3 million lei in 2024 to 21.9 million lei in 2025, reflecting the issuers’ orientation towards large-scale investment projects.

The highest value, of 1.1 billion lei, was concentrated in eight corporate bond issues, all issued by BC “Moldova Agroindbank”. “The volume of corporate bonds in the total of issued securities (compared to 564.9 million lei in 2024) confirms the central role of the banking sector in the capital mobilization process,” mentions CNPF.

On the segment of shares, 81% of the total volume of issues was realized by six companies (“Dacia-LV”, “Agat”, “Crismax”, Leather Goods and Articles Factory “Artima”, National Road Administration and “Basarabia-Nord”), each with issues over 10 million lei.

This concentration, according to CNPF, reflects the predominance of large-scale issuers, capable of attracting significant volumes of capital. The institution also highlights the rise of direct foreign investments, which, although still modest in volume, have recorded a significant increase: from 3.7 million lei in 2024 to 132.7 million lei in 2025.

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The relationship between the total volume of securities issued, amounting to 427.19 million lei, and their number – 28 -, shows that, in the first half of the year, both the debt securities issued and the capital increases of joint-stock companies were significantly larger compared to the same period last year.

According to the CNPF, the average value of an issuance was 15.25 million lei, while in the first six months of 2024, the total volume was 319.29 million lei for 51 issuances, which corresponds to an average value of 6.26 million lei.

From the total volume of share issues recorded in the first semester, worth 131.09 million lei, direct foreign investments, made in the form of contributions to the share capital of joint-stock companies, represented only 6%, that is, 7.86 million lei. However, this indicator recorded a significant increase, of approximately 2.75 times, compared to the same period of the previous year, when the value of direct foreign investments was 2.85 million lei.

At the same time, the evolution of the secondary capital market in the first half of 2025, compared to the same period in 2024, shows a decrease in transaction volume by 22.43%, while their number has doubled. During the period of January-June, 1,234 transactions were registered, with a total volume of 812.38 million lei, compared to 474 transactions and a volume of 1.047 billion lei in the first six months of the previous year.

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