The National Commission for Financial Markets published its assessment of Moldova’s capital market in the first half of 2026, showing a sharp increase in primary market financing but weaker secondary market activity. Registered securities issuance rose 71.8% year over year to MDL 733.76 million, driven mainly by corporate bonds, while secondary market trading declined 6.9% to MDL 756.16 million. Primary issuance increased despite the number of issues falling 39.3% to 17, lifting the average issue size from MDL 15.25 million to MDL 43.16 million. Four corporate bond issues totaled MDL 600.28 million, or 81.8% of issuance, while 13 share issues accounted for MDL 133.48 million. On the secondary market, the number of transactions dropped 33.2% to 824, and 91.21% of traded value occurred outside the regulated market and multilateral trading facility. The commission identified stronger liquidity and greater use of organized trading infrastructure as priorities under Moldova’s 2026-2030 capital market development strategy.
2026-09-28National Commission for Financial Markets
Moldova's National Commission for Financial Markets reports 71.8% rise in primary issuance as secondary trading falls 6.9%
Moldova’s National Commission for Financial Markets reported that primary securities issuance rose 71.8% to MDL 733.76 million in the first half of 2026, led by corporate bonds. Secondary trading value fell 6.9% to MDL 756.16 million, while transaction numbers declined 33.2%. More than 91% of secondary market value was traded outside the regulated market and multilateral trading facility.