About: http://data.cimple.eu/news-article/096b1baae07390c04ebe58ddb941d80d0f7a106ca9018a75d072e337

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/096b1baae07390c04ebe58ddb941d80d0f7a106ca9018a75d072e337 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Bulgaria said Friday it has intervened to cover a capital shortfall at the country's fifth largest First Investment Bank (Fibank) so as to safeguard its bid for eurozone membership. "This was the last requirement -- to guarantee the stability of this bank," Prime Minister Boyko Borisov said after the government approved the intervention via the state-owned Bulgarian Development Bank (BDB). Fibank's capital increase was the last requirement the country had to meet before getting the green light to join the European Union banking union and the two-year ERM-2 system to join the eurozone. The government has said it would aim to do that as early as July. In mid-May Fibank, the fifth largest bank in Bulgaria in terms of total assets, opened a subscription to sell 40 million new shares to raise up to 200 million leva (100 million euros), to cover a capital shortfall found by European Central Bank stress tests last year. Lack of interest by investors threatened to scupper the issue before the BDB stepped in. The government said Friday that the state-owned bank, which usually supports small enterprises and projects of national importance, will acquire up to 70 percent of the new shares. Borisov said that it will aim to sell them back to the bank later at market price. Before the new issue, two Bulgarian businessmen -- Tseko Minev and Ivaylo Mutafchiev -- held 42.5 percent of the bank each, with the remaining 15 percent floated on the Sofia stock exchange. With the acquisition of 140 million leva's worth of shares, state-owned BDB will hold just under 19 percent in Fibank with other holdings adjusted accordingly. ds/jsk/bmm
schema:headline	Bulgaria boosts Fibank capital to safeguard euro bid
schema:mentions	European Central Bank Eurozone Sofia Bulgaria Bulgarian lev Prime Minister of the United Kingdom United States Yordan Minev Bulgarian Development Bank First Investment Bank Ivaylo of Bulgaria Banking union Boyko Borisov Scupper
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-12 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	79 (xsd:integer)

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 5 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software