{"id":17366,"date":"2022-12-15T09:02:11","date_gmt":"2022-12-15T07:02:11","guid":{"rendered":"https:\/\/www.invaldainvl.com\/?p=17366"},"modified":"2022-12-16T15:24:29","modified_gmt":"2022-12-16T13:24:29","slug":"moldova-agroindbank-shareholders-approved-ipo-and-listing-on-bucharest-stock-exchange","status":"publish","type":"post","link":"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/moldova-agroindbank-shareholders-approved-ipo-and-listing-on-bucharest-stock-exchange\/","title":{"rendered":"Moldova-Agroindbank shareholders approved IPO and listing on Bucharest stock exchange"},"content":{"rendered":"\n
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Moldova-Agroindbank (maib), Moldova\u2019s largest commercial bank, of which the leading Baltic investment management and life insurance group Invalda INVL is a shareholder, will prepare for an initial public offering (IPO) and listing of its shares on the Bucharest Stock Exchange. That decision was made at an extraordinary general meeting of maib\u2019s shareholders on Wednesday.<\/p>\n

\u201cAn IPO by maib and floating of the bank\u2019s shares on a foreign exchange is a key part of the strategy of the bank’s existing shareholders, and we are moving steadily towards that goal. The successful listing of maib\u2019s shares on an international stock exchange would be an important achievement not only for the bank but also for the whole country, as it would put Moldova on investors\u2019 radar and attract capital to the country,\u201d says Vytautas Plunksnis, the Chairman of the Supervisory Board at maib and Head of Private Equity at INVL Asset Management.<\/p>\n

He says maib\u2019s objective is a long-term return on capital of 20%. Thus it seems reasonable to expect that the rapid growth of the Moldovan banking market along with the payment of 35%-50% of net profit as dividends would attract investors to this undisputed market leader.<\/p>\n

As of the end of September 2022, maib held a 36.3% share of the loan market in Moldova, while the nearest competitor\u2019s market share was 20.3%.<\/p>\n

Maib\u2019s shares are currently listed on the Moldova Stock Exchange, but the liquidity of that exchange is extremely low.<\/p>\n

Last year the bank earned an audited net profit of 721 million Moldovan leu (MDL) (EUR 35.9 million). In the first nine months of 2022, maib had an unaudited net profit of MDL 836.7 million, or EUR 44.1 million, which is 66% more than in the same period of 2021.<\/p>\n

At the end of September, maib had a capital adequacy ratio of 22% and a liquidity ratio of 117%.<\/p>\n

Since 2018, maib\u2019s largest shareholder is HEIM Partners, a consortium of investors consisting of the European Bank for Reconstruction and Development, Invalda INVL \u2013 a leading investment management and life insurance group in the Baltic region, and Horizon Capital \u2013 a private equity fund manager focused on emerging Europe. The consortium owns 41.09% of maib\u2019s shares. Invalda INVL invested in the bank through the company MD Partners, of which it controls 51.37% of shares. The rest of the shares of MD Partners belong to private investors who have invested through the INVL Special Opportunities Fund managed by INVL Asset Management.<\/p>\n

About maib<\/strong>\u00a0<\/em><\/p>\n

Maib is the largest bank in Moldova. As of 30 September 2022, it accounted for 32.5% of the country\u2019s bank assets and 36.3% of loans. The bank serves more than a third of the people in Moldova and is one of the country\u2019s largest employers. Maib has a high level of capitalisation \u2013 as of 30 September 2022, its capital adequacy ratio was 22%. The bank has been recognised for customer service quality and product innovation.<\/em>\u00a0<\/strong><\/p>\n

About INVL<\/strong>\u00a0<\/strong><\/p>\n

INVL is the leading investment management and life insurance group in the Baltic region. Its companies manage pension and mutual funds and life insurance directions, individual portfolios, private equity and other alternative investments. Over 300,000 clients in Lithuania, Latvia and Estonia and international investors have entrusted the group\u2019s companies with the management of more than EUR 1.75 billion of assets. In the business for more than 30 years now, the group has solid experience in managing private equity assets and building market players that are leaders in their respective fields in the Baltic countries and Central and Eastern Europe.<\/em><\/p>\n\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"

Moldova-Agroindbank (maib), Moldova\u2019s largest commercial bank, of which the leading Baltic investment management and life insurance group Invalda INVL is a shareholder, will prepare for an initial public offering (IPO) and listing of its shares on the Bucharest Stock Exchange. That decision was made at an extraordinary general meeting of maib\u2019s shareholders on Wednesday.<\/p>\n","protected":false},"author":19,"featured_media":17180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14,15],"tags":[],"class_list":["post-17366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-group-company-press-releases","category-regulated-information"],"acf":[],"yoast_head":"\nMoldova-Agroindbank shareholders approved IPO and listing on Bucharest stock exchange - Invalda INVL<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.invaldainvl.com\/en\/group-company-press-releases\/moldova-agroindbank-shareholders-approved-ipo-and-listing-on-bucharest-stock-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moldova-Agroindbank shareholders approved IPO and listing on Bucharest stock exchange - Invalda INVL\" \/>\n<meta property=\"og:description\" content=\"Moldova-Agroindbank (maib), Moldova\u2019s largest commercial bank, of which the leading Baltic investment management and life insurance group Invalda INVL is a shareholder, will prepare for an initial public offering (IPO) and listing of its shares on the Bucharest Stock Exchange. 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