February 12 (SeeNews) - Bulgaria's Investbank said that its shareholders have approved the company's plan to seek to increase its capital by up to 21.94 million levs ($12.2 million/11.2 million euro) via a new share issue.
Investbank will offer 21,944,445 shares for subscription to existing shareholders at a price of 1 lev each, the lender said in a statement on Tuesday.
The bank's shareholders also endorsed the conversion of two perpetual bond issues with a combined nominal value of 39.21 million levs into shares.
Last month, Investbank said that the holders of the two bond issues will receive a total of 1,960,500 shares in Investbank.
Currently, Investbank has a registered capital of some 131.67 million levs.
Last year, the European Central Bank said that it has found a capital shortfall of 51.8 million euro at Investbank, following a comprehensive assessment.
(1 euro = 1.95583 levs)
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