Investbank Request Permission For New Share Listing

Bulgaria’s Investbank is seeking the approval of its shareholders to increase its capital by up to 23.9 million levs ($13.6 million/12.2 million euro) via a new share issue, it said.

Investbank is planning to offer 21,944,445 shares for subscription to existing shareholders at a price of 1 lev each, the lender said on Tuesday in an invitation for the shareholders’ meeting.

The bank is also proposing to repay two perpetual bond issues worth a total of 39.21 million levs in par value, if their holders agree to invest the proceeds into the subscription of an additional 1,960,500 shares in Investbank. The shares, which carry a nominal value of 1 lev apiece, will thus be subscribed for a price of 20 levs each.

Investbank shareholders will vote on the proposals at a general meeting scheduled for February 10.

Currently, Investbank has a registered capital of some 131.67 million levs.

Earlier this year, the European Central Bank said that it has found a capital shortfall of 51.8 million euro at Investbank, following a comprehensive assessment.

Read More

Land Prices Increase By 5%

The average price per one decare of agricultural land in Bulgaria rose by 14.6% year-on-year to 872 levs ($543.6/445.8 euro) in 2017, the National...

Bulgarian National Chemistry Team Wins One Gold And Two Silvers

Bulgaria’s National Chemistry Team earned one gold and two silver medals at the 53rd International Mendeleev Chemistry Olympiad in Saint Petersburg, Russia. A...

Bulgarian Tobacco Industry’s To Receive $60 Million In Subsidies

The Management Board of State Fund Agriculture distributes another BGN 3.2 million to farmers who have suffered financial damages, reported NOVA TV. 


New Trade Secrets Law Passes Draft Phase

MPs voted in first reading on a draft law on the protection of business secrets, which introduces better legal protection against unauthorized acquisition, use...

Radev To Veto The Black Sea Coast Act

The team of President Rumen Radev is considering the possibility of vetoing the Law on the Structure of the Black Sea Coast, which was adopted...

Annual Inflation Rate In the Euro Area Expected To Increase

Euro area annual inflation is expected to be 1.3% in December 2019, up from 1.0% in November according to a flash estimate from Eurostat, the statistical...