One of the main shareholders in the country’s fifth largest First Investment Bank (FIB) has decided to offer additional 5% of the bank’s capital for trade on the local stock exchange upon the forthcoming IPO. First Financial Brokerage House (FFBH), which holds 14% of FIB at present, explains that the new offer is aimed at expanding the free float of the Bank to 13.6% of the shareholders’ capital. As previously reported, FIB will run a 10% capital hike to BGN 110mn (EUR 56.2mn) in a public offering that will take place this spring or shortly after the summer vacations. FFBH is also acting as a lead manager of the IPO. The Bank will set a six month lock-up period for follow-up share issues. Last year, FIB posted a net profit of BGN 28.7mn on end-year asset and equity values of BGN 3.2bn and BGN 168mn, respectively. The assets of the bank grew by 25.1% in a year to a market share of 7.5%. The market capitalisation of FIB would exceed BGN 1bn in our estimates.