Investbank Jsc will offer up to 10 mln new common paperless voting shares.
The IPO price per share will be between 5.90 and 7.90 leva and will be determined via book-building (ie based on investors' limit and market subscription orders).
The bank is filing the IPO with the aim of expanding its branch network, as well as increasing its credit portfolio and optimizing its structure.
The bank management also believes that the public status will boost clients' confidence and its popularity among investors.
As you know, in October, Investbank's shareholders approved a capital increase from 62.047 mln leva (31.724 mln euros) to 70 mln leva (35.790 mln euros).
In September 30, the bank's assets stood at 1.02 bln leva (521.51 mln euros), and profit was at 9.2 mln leva (4.703 mln euros).
Festa Holding controls 86.84% of the capital, and Vinkom has 11.83%.