December 23 (SeeNews) - Bulgaria's First Investment Bank (Fibank) [BUL:5F4] saw its shares trade 12.24% higher at 3.3 levs ($1.87/1.69 euro) on the Bulgarian Stock Exchange early on Monday, after the company made several announcements prior to the trading session.
After the Sofia bourse closed for trading on Friday, Fibank announced that it has placed an 8% non-convertible 30 million euro perpetual bond issue and intends to seek to raise further funds through a capital increase.
Fibank is planning to offer 40 million shares for subscription at a price of 5 levs apiece. However, the price of the shares could be revised by the time the company completes its prospectus, Fibank noted. The minimum success threshold is set at 10% of the offered number of shares.
In addition, Fibank announced that it has signed deals to sell non-performing loan (NPL) portfolios with a total face value of some 538 million levs.
Earlier this year, the European Central Bank (ECB) said it has found a capital shortfall of 262.9 million euro at Fibank.
(1 euro = 1.95583 levs)
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