After negotiations the underwriter for the IPO of First Investment bank (FIB), First Investment Brokerage House and the bank agreed upon setting the price of each allocated (subscribed and sold) share at 10.70 leva, BSE announced.

At the set price of 10.70 leva the oversubscription of the amount offered is 5.97 times.

The total issue/selling value of allocated shares is 176 550 000 leva. The orders are to the amount of 1 317 898 070 leva.

The price above is the issue vale for each of the new shares from the capital increase of the bank and the selling price for each of the issued shares allocated in the IPO.

The shares will be registered for BSE trade under the code FIB. The IPO costs currently stand at 2 440 000 leva.

Towards the end of 2006 the bank’s net profit rose 36.34% against the previous year and reached 29 mln leva while capital adequacy exceeded the regulated rate by 15.81%.

Main shareholders in the bank are Ivaylo Mutafcheiev and Tseko Minev who own 31.83% of the capital each and First Brokerage House Ltd holds 13.89%. Legnano Enterprice Limited owns 8.45% and Domenico Ventures Limited and Rafaela Consultance Limited have 7% each.