The Financial Supervision Commission approved the capital increase prospectuses of three companies – Central Cooperative Bank, Sparky Eltos and Industrial Holding Bulgaria.

Central Cooperative Bank is planning a capital increase from the current 72.76 mln leva (37.201 mln euros) to 83.155 mln leva (42.516 mln euros). The bank will issue 72.76 mln rights, in a 7:1 proportion between rights and new shares. Shares will have a face value of 1 lev and issue value of 7.20 leva. This means that if 100% of new stock is subscribed, the bank will gain some 74.8 mln leva (38.244 mln euros).

Sparky Eltos will issue 2.8 mln new ordinary, registered, paperless shares with a face value of 1 lev and issue value of 16 leva. The company will generate 44.8 mln leva (22.905 mln euros) if all shares are placed. The funds will be used for modernization of production, increasing production capacity, as well as on new equipment, improving environment sustainability, automation, and reducing the company's leverage.

Sparky Eltos will also use the funds to finance its four-year investment program for increasing production capacity, which requires some 25 mln leva (12.782 mln euros). The company may be able to implement this program within 15-18 months in case of a successful capital increase.

Industrial Holding Bulgaria raises capital from 26.254 mln leva ( 13.423 mln euros) to a maximum of 43.757 mln leva (22.372 mln euros) via issue of 17.503 mln ordinary, paperless, voting shares with a face value of 1 lev and issue value of 2.40 leva.

In today's trade session CCB shares dropped 0.44% to 11.40 leva, Sparky Eltos declined 0.11% to 17.76 leva, while Industrial Holding Bulgaria added 13.31% to 14.73 leva.