Moldova’s mobile operator Moldcell to list shares at Bucharest Exchange
The second-largest Moldovan telecommunications operator Moldcell, taken over in 2020 by the Nepalese group CG Corp Global owned by Nepalese investor Binod Chaudhary, plans to list its shares on the Bucharest Stock Exchange (BVB), Profit.ro announced.
This would not be, however, before the listing of the shares of Moldova’s largest bank by assets MAIB, expected for next year.
The two companies would join at BVB Purcari winery - a company set up in Moldova but also operating in Romania and having its shares listed at the Bucharest Exchange.
Swedish Telia sold its 100% stake in Moldcell to CG Cell Technologies DAC, the local subsidiary of the Nepalese group CG Corp Global, in 2020 for USD 31.5 mln.
With 1.6 million users in 2021, Moldcell has the second-largest market share in the Republic of Moldova, after the local branch of Orange.
Moldcell stayed in the red for the past three years. It posted MDL 55.7 mln (USD 3.15 mln) last year, down from MDL 103.6 mln (USD 5.99 mln) in 2020 and MDL 109.55 mn (USD 6.23 mln) in 2019.
(Photo source: Inquam Photos/George Calin)