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Report: Investbank mulls 10 million leva capital hike

Investbank AD intends to increase its capital by 10 million Bulgarian leva via the issuance of additional shares with a par value and offering price of 1 lev apiece, SEENews reported May 14.

The lender's shareholders will vote on the capital hike June 19, the news report said, adding that the bank's registered capital currently amounts to 121.67 million leva.

Investbank signed a framework agreement in April to acquire Victoria Commercial Bank EAD from collapsed Corporate Commercial Bank AD, with the transaction pending the approval of the Bulgarian competition regulator, SEENews also noted.

As of May 14, US$1 was equivalent to 1.63 leva.