Maib Announces the Appointment of Bank Syndicate
Maib announces the appointment of bank syndicate
Today maib is pleased to announce that, following the approval on 14 December 2022 of the potential listing of maib shares on Bucharest Stock Exchange (BVB) by maib’s shareholders, its Supervisory Board approved a syndicate of investment banking advisors to deliver the potential listing. In maib’s view the selected team has an appropriate balance of necessary project management skills and research, sales and trading capabilities in order to deliver the optimal results to the shareholders during the potential listing on BVB. The transaction is envisaged to take place in 2023, subject to market conditions.
The composition of the syndicate is as follows:
- WOOD&Co. appointed as the sole global coordinator and joint bookrunner;
- Raiffeisen Bank International appointed as joint bookrunner;
- Swiss Capital SA appointed as joint lead manager;
- Ipopema Securities appointed as co-manager;
- Tradeville appointed as retail broker [co-manager focused on retail investors in Romania].
Giorgi Shagidze, maib CEO:
“Today we appointed the team that will manage the potential transaction. These banks have successfully worked on multiple corporate finance transactions on BVB to the satisfaction of both issuer and investor clients. I believe that the mix of skills existing within the syndicate will enable maib to achieve the best potential results for the bank and its shareholders. We would like to thank the participants of the syndicate for their dedication and support in this very important transaction for maib”.
Maib is the largest bank in Moldova, with a share of 32.5% of deposits and 36.3% of loans of the entire banking system at the end of 9 months of 2022. The bank is of systemic importance, serving almost a third of the country's population. The first nine months of 2022 were marked by very strong financial performance by maib. During this period, net profit rose by 66% year-over-year to MDL 837million. The bank’s ROE reached 19.1% (9M 2022), 6 percent rise year-on-year. As of 30 September 2022, maib was well capitalized maintaining a Capital Adequacy Ratio of 22%, up by 2% year-over-year. Maib cost to income ratio was 46% during the period, 9% below the same period last year. Since 2018, maib's largest shareholder is a consortium, which includes the European Bank for Reconstruction and Development (EBRD), Invalda INVL, a leading Baltic asset management group, and Horizon Capital, a private equity fund focused on emerging markets.
For any queries regarding this information please contact:
+373 6840 3477
+44 7534 664 275
+40 72 729 95 29
Raiffeisen Bank International
+43 1 717070
Upcoming investor events
- 10 January – Euromoney Conference Vienna
- 16 February – 2022 preliminary financial results release
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For further enquiries, please contact: IR@maib.md or by phone at +373 68 403 477 or visit our website ir.maib.md