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Bulgaria's BACB planning to seek 7 mln euro in capital increase

Author Mario Tanev
Bulgaria's BACB planning to seek 7 mln euro in capital increase Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), March 18 (SeeNews) - Sofia-based Bulgarian-American Credit Bank (BACB) [BUL:5BN] said that it is planning to seek to raise up to 13.7 million levs ($7.7 million/7 million euro) via a capital increase.

BACB intends to offer 2,096,602 shares for subscription at a price of 6.53 levs apiece, it said earlier this week in an invitation for a shareholders meeting.

The company's shareholders will vote on the proposal at a meeting scheduled for April 22.

BACB currently has a registered capital of some 24.7 million levs. The lender's shares last traded on the Bulgarian Stock Exchange at a price of 6.50 levs.

BACB was Bulgaria's 14th largest lender by assets at the end of 2019, according to central bank data.

(1 euro = 1.95583 levs)

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