14 times oversubscription on market orders for CCB auction

14 times oversubscription on market orders for CCB auction

More than 3 500 orders for more than 12 mln shares worth over 700 mln leva have been submitted, UBB announced. The price is the maximum allowed – 58.50 leva. Shares are allocated proportionally and all participants are admitted to the auction.

Market orders exceeded 14 times the offered amount of 700 000 shares and maximum price limit orders exceed 6 times the offered 300 000 shares.

According to the prospectus UBB is to inform investment intermediaries of the number of shares allocated to each investor today. Deals will be confirmed May 14 and the settlement date is May 16.

The bank held an auction for the sale of 1 mln shares with a face value of 10 leva each issued in the bank’s capital increase from 50 mln to 60 mln leva.

Main shareholders in the bank are Bromak EOOD and Technoligical Center – Microelectronics Institute AD holding 69.34% and 29.06 % of the capital respectively.

For 2006 Corporate Commercial Bank reported a profit in the amount of 6.544 mln leva or 1.84 leva per share. This is a 49.5 % increase compared to 2005 and a 6.2% or 0.11 leva increase in the profit per share.

Net revenues for 2006 stand at 30.938 mln leva compared with 23.654 mln leva in 2005 and 19.553 mln leva for the previous year. The bank’s assets are expected to reach 1.171 bln leva till the end of the year against 1.006 bln in the end of 2006.

The bank’s analysis predict total revenues for 2007 to amount to 87 mln leva and only a year later to grow 43.3% to 125.071 mln leva. Net profit for 2007 is expected to stand at 21.7 mln leva, for 2008 at 37.9 mln leva and by the end of 2009 to reach 54.5 mln leva.

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