August 10 (SeeNews) - The Bulgarian Stock Exchange said that it has decided to admit to trading a subsequent issue of 39,084,800 shares in First Investment Bank (Fibank) [BUL:5F4].
The shares will start trading on the BSE regulated market on August 11, the stock exchange operator said in a statement on Friday.
Fibank increased its capital to 149,084,800 levs ($90.1 million/76.2 million euro) from 110 million levs through the share issue. The lender raised some 195.4 million levs, placing the shares at a price of 5 levs apiece, more than double the company's current share price on the Sofia bourse. As at 14:15 CET on Monday, Fibank shares traded unchanged from their previous closing price, at 2.12 levs.
All newly-issued shares were acquired by two investors - state-owned Bulgarian Development Bank (BDB) and Liechtenstein-registered Valea Foundation. Following the completion of the capital increase, the BDB owns 18.35% interest in Fibank, while Valea Foundation holds 7.87%.
(1 euro = 1.95583 levs)
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