May 18 is the deadline for investors to state their participation in the IPO of First Investment Bank, which will be held through bookbuilding.

A total of 16.5 mln shares will be offered, 10 mln of them will be from the bank’s capital increase to 100 mln leva, another 5 mln shares will be offered by the leading manager and shareholder First Financial Brokerage House (FFBH), and 1.5 mln shares may be offered under agreements and addititional distributions.

In the end of May the bank’s shares will be registered in the investors’ accounts in the Central Depository, and around 12 May they will be admitted for trade on BSE. Only 10 days later the first deals involving FIB shares is expected to be made.

FIB posted a net profit of 10.123 mln leva for the first quarter of this year compared to 5.337 mln leva a year ago.

Today (14 May) is the last date for transacting shares of Energoremont Holding company on the BSE-Sofia, as a result of which the holder will be entitled to exercise their voting right at the general meeting of the company.

The meeting itself will be held on 30 may 2007. Shareholders are expected to vote a proposal to increase the company’s capital from 349,340 leva to 3,842,740 leva using own funds.

The capital will be increased via the issuance of 3,493,400 new shares with a face value of 1 lev each using excess funds from the “General Reserves” fund exceeding the legal amount of 1/10 from the capital - 171,146.94 leva, and 3,322,253.06 leva from the “Other Reserves” fund.

The new shares will be distributed between the shareholders in proportion to their interest in the company’s capital - each investor will receive 10 new shares for each one of their old share.

The trade with rights of Eurohold Bulgaria starts tomorrow. The increase will be made via the issuance of 50.003 mln shares allowing the subscription of 0.25 of the new shares (4:1) at a face value of 1 lev and issue value of 3.35 leva each.

The rights will be traded till May 28 and the final date for subscription of shares from the capital increase is 20 June 2007. The auction for unused rights will be held June 5, 2007. The capital will be increased on the condition that at least 7.5 mln new shares have been subscribed and paid.

Wednesday (16 May) is the last day for transacting shares of Industrial Capital Holding and Industrial Holding Bulgaria as a result of which the holder will be entitled to exercise their voting right at the general meetings of the companies.

The shareholders of Industrial Capital holding are expected to decide to increase the holding’s capital from 1.944 mln leva to 7.776 mln leva using the profit generated in 2006 and the undistributed profit from previous years.

A proposal to increase the company’s capital by converting convertible bonds into shares is expected to be made at the meeting.

The capital increase will be made through the conversion of 5,250,805 registered paperless convertible bonds into common registered paperless voting shares. The holding’s capital is currently in the amount of 21 mln leva.

The conversion of the bonds will be made on the day of maturity of the bond loan – 2 July 2007.

On Friday (18 May) the general meeting of Kostenez-HHI will be held which is expected to adopt the company’s investment development plan for the period 2007-2008 and approve the financial parameters, technical framework of delivery, supplier and financing institution for the financing of the gas co-generation project.

Last week SOFIX was up 0.96% to 1,255.79 points, while BG40 gained 1.95% to 250.05 points.