Results of Subscription for Bonds of Inbank
698 investors participated in the subscription and the average amount of subscription was 15 253 euros. Due to over-subscription Inbank used the opportunity to increase the volume of the issue from the initial 5 million euros to 6.5 million euros.
60% of investors received the quantity of bonds they had requested and 40% of investors received fewer bonds than subscribed for due to over-subscription. According to the prospectus, bonds in requested amounts are given to the existing bond investors of Inbank, which comprises 865 000 euros or 13.3 % of the total value of the issue.
As for other investors, Inbank fully satisfied all subscriptions of up to 5,000 euros. An additional 41.58% was distributed to those who had subscribed for more than 5,000 euros in the amount that exceeded 5,000 euros. The quantity of the bonds distributed to investors was rounded up to the closest whole number.The subscription period of Inbank’s subordinated bonds lasted from 12 to 23 September and the offered interest rate was 7% per year. The bonds will be transferred to the securities accounts of investors on 28 September. The raised funds will be used to strengthen the capital structure of Inbank and expand its activities to foreign countries.
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