Local company CBA Asset Management launched last Friday a new supermarket in Veliko Tarnovo, Northern Bulgaria. The launch brings to 11 the units in the company's outlet network. Five of the supermarkets are located in Veliko Tarnovo, four in Ruse and two in Gabrovo. Another store opening is planned for Retail Park Veliko Tarnovo. The company said it has also leased its first supermarket building in Sofia. It has retail floor area of 1,400 sq m and is sited in the Svoboda neighbourhood. CBA Asset Management plans to roll out convenience stores in most of the bigger neighbourhoods in the cities throughout Central Northern Bulgaria, said executive director Ivailo Marinov. The investment program of the company will be financed with the upcoming initial public offering. The offering, which will employ a book-building procedure, will comprise 3.9m new shares with a nominal value of BGN 1 and a minimum issue price of BGN 2. CBA Asset Management currently has a capital of BGN 16.3m which will increase to BGN 20.2m if the IPO - scheduled for November 14, 15 and 16, is successful.