Moldova’s leading lender maib puts on hold Bucharest Exchange listing

The largest bank in the Republic of Moldova, Moldova Agroind Bank (maib), announced it is postponing its plan to list on the Bucharest Stock Exchange because certain provisions in the Moldovan legislation do not make such a listing possible.

Under these circumstances, maib has suspended its operations regarding the listing, pending the clarification of the legislative changes. The moment when these changes will take place remains uncertain, the bank pointed out, quoted by Profit.ro.

The management of maib received in December 2022 shareholders’ approval to list its shares on the Bucharest Stock Exchange. Brokerage firm Wood & Co has been appointed sole global coordinator and joint bookrunner, while Swiss Capital will serve as joint lead manager in the actual listing process.

maib is the largest bank in the Republic of Moldova, with a share of 34.3% of deposits and 37.4% of loans in the entire banking system at the end of 2023. The bank is systemically important and serves almost a third of the country's population.

Net profit in 2023 rose by 10% y/y to EUR 63.6 million. Total assets reached the equivalent of EUR 2.7 billion, up 21% y/y.

As of 2018, maib's largest shareholder is HEIM, a consortium that includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading Baltic asset management group, and Horizon Capital, a private equity fund focused on emerging markets in Europe.

(Photo source: the company)