At its 29 July 2025 meeting, Moldova's National Commission for Financial Markets (CNPF) registered the results of additional share issues by two joint-stock companies and approved the prospectus for a voluntary takeover offer. The Board also took supervisory measures in the insurance sector, including reiterating an order to pay an outstanding insurance indemnity and requiring an insurer to revisit past claims handling and contract terms after identifying consumer protection breaches. On capital markets authorisations, CNPF registered CRIO IZVORUL’s third additional share issue of 2,000,000 ordinary registered shares for MDL 2,000,000, bringing share capital to MDL 2,680,000, and BASTINA’s additional issue of 99,692 ordinary registered shares for MDL 797,536, bringing share capital to MDL 2,232,680 (279,085 class I ordinary registered shares with a nominal value of MDL 8). It approved DRUMURI-BALTI’s voluntary takeover offer for 8,621 ordinary registered shares in DRUMURI-BRICENI at MDL 79.31 per share. In insurance supervision, the Board found INTACT ASIGURARI GENERALE had not complied with a prescription to pay compensation and to inform the authority, and it re-prescribed full payment to the complainant. A thematic review of TRANSELIT’s travel medical insurance claims processes found multiple breaches, including aggressive practices (requests for irrelevant documents and unjustified delays), unjustified refusals to pay (in full or in part), missed payment deadlines, lack of transparency, and contract terms deemed inconsistent with legal requirements; TRANSELIT was ordered to review claims settled in 01.01.2024–31.12.2024 to identify and remedy unjustified refusals and to revise its contract templates and special conditions for this product. The Board also rejected a consumer’s preliminary request against CNPF correspondence on formal deficiencies, citing the use of a foreign electronic signature that could not be authenticated via the national verification device. The voluntary takeover offer is set to run for 15 days from initiation. CNPF noted that the registered share issues exceed 25% of shares in circulation, triggering minority shareholders’ right to request that the issuers purchase their shares within three months from registration of the capital increase with the Public Services Agency.
National Commission for Financial Markets 2025-08-01
Moldova's National Commission for Financial Markets registers two major share issues, approves a voluntary takeover offer and orders remedial action on insurance claims handling
Moldova's National Commission for Financial Markets (CNPF) registered additional share issues by CRIO IZVORUL and BASTINA, and approved DRUMURI-BALTI's voluntary takeover offer. In insurance supervision, CNPF mandated INTACT ASIGURARI GENERALE to pay outstanding indemnities and ordered TRANSELIT to address breaches in claims handling and contract terms. The share issues exceed 25% of shares in circulation, activating minority shareholders' rights to request share purchases.