Romanian investment company SIF Moldova, also known as SIF2, plans to change its name to First Romania Capital Invest, which would be a historic change for the local capital market.

SIF Moldova was one of five investment companies the Romanian state launched in the mid-90s as part of its mass privatization programs. They were the vehicles through which the government distributed a significant part of Romania’s economy to the population after the fall of the communist regime. While these companies got significant stakes in local industrial and energy companies, banks, hotels and retail properties, millions of Romanians became shareholders in them following two coupon distributions.

Each of the five companies was based in one of Romania’s historic regions and owned stakes in companies from these regions. SIF Moldova was based in Bacau, Eastern Romania. The company is currently the second-biggest of the five SIFs in terms of total assets, with a portfolio of over RON 2 billion (EUR 438 million).

The name change needs to be voted by the company’s shareholders in the extraordinary general meeting to take place on April 27/28. The shareholders will also vote on the cash dividends to be paid from last year’s profit and the buyback of 1.09% of the company’s shares.

editor@romania-insider.com