Bulgaria’s Corpbank plans capital hike

The bank plans to issue 600,000 new shares with a par value of 10 levs and an issue price of 156.47 levs each, Corpbank said on Wednesday in a bourse filing.

Following the share issue, the lender's share capital could rise by up to 6.0 million levs to 66 million levs.

The share capital hike will be considered successful if at least 300,001 new shares are sold, the bank said.

The proposal will be voted on at a general shareholders’ meeting scheduled for December 4.

Corpbank (www.corpbank.bg) was the seventh largest lender among twenty-four locally registered banks and branches of seven foreign banks at the end of August.

(1 euro = 1.95583 Bulgarian levs)