MOLDASIG S.A., the leader in the insurance market in the Republic of Moldova, is making available for purchase an 80% stake in the company's share capital in a single package of tradable shares on the regulated market of the Republic of Moldova. The purpose of this offering is to strengthen the company's reputation and financial stability.
The insurance company MOLDASIG was established in December 2002, initiated by a group of state enterprises including "Banca de Economii," the Moldovan Railway Enterprise, and "Poşta Moldovei." Over the course of two decades of operation, MOLDASIG has continuously expanded and now boasts a territorial network consisting of 50 agencies and 230 sales points, covering the entire country. The company's offerings are diverse, with a portfolio comprising over 30 insurance products catering to both corporate clients and individuals.
MOLDASIG concluded the year 2022 with a total volume of gross written premiums (GWP) amounting to EUR 19.43 million, marking a 53.3% increase compared to the previous year, thus holding a 16.8% share of the insurance market in Moldova. In 2023, MOLDASIG maintains its market leadership position, with GWP at the end of the first half of the year reaching approximately EUR 11.92 million.
As of the end of June 2023, the company held total assets valued at MDL 621.2 million (approximately EUR 31.11 million), while the value of net assets amounted to MDL 236.4 million (EUR 11.9 million), with a social capital of MLD 60 million (EUR 3 million).
At the same date, MOLDASIG recorded a solvency rate of 182% and a liquidity ratio of 3.00, significantly surpassing the legal requirements. The company also achieved a net profit of MLD 15.98 million.
Characteristics of the newly issued securities offered for sale:
- Issuer's Full Name: Joint Stock Company "MOLDASIG"
- Type of Securities: Ordinary Nominal Shares
- Class of Shares: Class I
- ISIN Code: MD 14MOSI1005
- Nominal Value of One Share: 100 MDL (Moldovan Lei)
- Number of Newly Issued Shares Offered for Sale: 480,000
- Initial Selling Price of Newly Issued Shares: 358.10 MDL
- Rights Granted by One Share: Each ordinary nominal share issued by the Company grants the right to vote at the general meeting of shareholders, the right to receive a share of dividends, and a portion of the Company's assets in the event of its liquidation.
Investors interested by the acquisition may obtain information about the financial situation of the Company over the last three years, as well as a description of the business, by visiting the company's website, www.moldasig.md, or the regulated market website https://emitent-msi.market.md/en/.
Please note that, in accordance with current legislation, the newly issued shares can only be purchased by individuals who have obtained prior approval from the National Bank of Moldova.
