The Bulgarian American Credit Bank is launching a free float of up to 30% of the shareholders' capital on the local stock exchange today. The targeted price range is set at BGN24.5 to BGN33.5 per share which corresponds to full-stake capitalization of BGN309 million to BGN423 million (€158 million to €216 million). The target range shapes price-to-equity ratio of 4 to 5.44. In the meanwhile, BACB placed a €25 million bond yesterday which will be also quoted on the local stock exchange.

The Bank is owned by the private equity firm Bulgarian American Investment Fund, which will execute the first private equity exit through the local stock exchange although it will retain the remaining 70% of the shares after the public offering. The assets of BACB are reported at BGN381 million (€195 million), ranking 21st out of 34 commercial banks active in the country. The bank however has a very high net profit of BGN24 million for last year on equity capital of BGN78 million.