FIB Expects 85-110 Million Leva from Its IPO

590
FIB Expects 85-110 Million Leva from Its IPO

First Investment Bank (FIB) is starting a roadshow in the Scandinavian countries, Austria and London, the bank said at its press conference today.

The bank expects 85-110 mln leva from its IPO which, combined with the bank’s profit, will be enough to finance its development in the next 3 years, the bank’s management added.

During the next 1 year the bank is not planning any capital increases. Its main shareholders don’t have any intention to sell any of their shares either.

The strategic goal of the bank is to keep its position in Bulgaria’s Top 5 banks on the background of the merger processes currently taking place in the country.
FIB also aims to become leader in the small and medium-sized enterprises crediting segment, and to keep its leading positions in foreign trade financing, where the bank holds a market share of 14%. The bank also intends to expand its presence in the house crediting segment, as well as in the card business.

Today (7 May 2007) is the first day in which investors can apply for subscription and purchase of shares within FIB’s IPO.

The IPO will include up to 16.5 mln common paperless voting shares. 10 mln shares will be newly issued, and up to 6.5 mln will be existing shares currently owned by First Financial Brokerage House (FFBH).

The shares have a face value of 1 lev and their issue value, respectively selling price, will be determined using the book-building method based on the stock amount and prices booked by the investors. All shares will be acquired by the investors with rated bids at the same price.

The single share price, as well as the total number of distributed shares based on the submitted bids will be published on the first working day after the bid submission deadline (21 May). Distributed shares should be paid no later than 28 May.

Facebook Коментари

Добави коментар

Екипът на Profit.bg Ви благодари, че използвате кирилица за вашите коментари.
В случай, че коментарът Ви съдържа нецензурни квалификации и лични нападки или обиди на расова, сексуална, етническа или верска основа, той ще бъде изтрит от модератора на сайта.

Абонирайте се за електронния
информационен бюлетин на Profit.bg