Moldova's National Commission for Financial Markets (CNPF) published the Administrative Board’s decisions covering capital-market authorisations and consumer protection supervision. The package approved a voluntary takeover offer prospectus, registered new equity and debt issuances and removed securities of liquidated issuers, and it set out follow-up actions after finding consumer-law breaches by EuroCreditBank and two insurers. On the capital markets side, the CNPF approved Realchimie & CC’s voluntary takeover offer for 22,878 ordinary registered shares in Întreprinderea de Colectare a Cerealelor din Olănești at MDL 6.48 per share, for a 15-day offering period from launch. It registered CAHINDMONTAJ’s additional share issue of MDL 167,400, representing 16,740 ordinary registered shares, taking the company’s share capital to MDL 600,030 split into 60,003 class I ordinary registered shares with a nominal value of MDL 10. The securities register was also updated to reflect Moldova-Agroindbank’s class IX bond issuance of MDL 150,000,000, comprising 7,500 corporate bonds with a nominal value of MDL 20,000 and a three-year maturity, with a floating coupon reset annually based on the National Bank of Moldova’s weighted-average rate on new MDL deposits with maturities of 6 to 12 months plus a fixed margin of 2.5 percent, paid monthly. Securities issued by VINAR-GLIA and BETACON were deregistered following liquidation. In supervision actions, a consumer petition led the CNPF to find that EuroCreditBank breached pre-contractual transparency requirements on the creditor’s right to charge certain fees and that contract terms on how the interest rate is formed and presented were abusive and illegal, with a court claim planned to have the clauses declared null. Separately, it found breaches of Moldova’s compulsory motor third-party liability insurance rules in the handling of a claim by Moldasig and by Intact Asigurări Generale, ordering Intact Asigurări Generale to regularise the claim and pay the full compensation to the damaged party. The Board also rejected a separate request filed on 26 March 2025.
National Commission for Financial Markets 2025-04-11
Moldova's National Commission for Financial Markets approves takeover offer and MDL 150 million Moldova-Agroindbank bond issue and plans court action over EuroCreditBank clauses
Moldova's National Commission for Financial Markets (CNPF) approved several capital-market authorizations, including a voluntary takeover offer by Realchimie & CC and new equity and debt issuances. The CNPF also addressed consumer protection issues, finding EuroCreditBank in breach of pre-contractual transparency requirements and ordering Intact Asigurări Generale to regularize a motor insurance claim. Additionally, securities of liquidated issuers were deregistered.