EBRD reduces holding in TBC Bank Group PLC

RNS Number : 3409H

TBC Bank Group PLC

06 June 2017

 

EBRD reduces holding in TBC Bank Group PLC ("TBC PLC") TBC PLC (LSE: TBCG) was notified on 6 June 2017 by the European Bank of Reconstruction and Development ("EBRD") that it has reduced its stake in TBC PLC through the sale of 1.9 million ordinary shares or 30% of its shareholdings. The shares sold by EBRD were acquired by a number of institutional investors from the UK, USA and Europe through an accelerated bookbuild offering managed by Renaissance Capital.  EBRD agreed to a lock-up period of 90 days on the residual stake. EBRD is one of JSC TBC Bank's ("TBC Bank") four original International Financial Institution ("IFI") shareholders, holding 12.5% of TBC Bank's share capital after the Initial Public Offering ("IPO") of TBC Bank's Global Depository Receipts ("GDRs") in June 2014 and 12.5% of TBC PLC following its listing on premium segment of London Stock Exchange ("LSE") in August 2016. The IFI shareholders held, in aggregate, 55.8% of TBC Bank's share capital before TBC Bank's IPO in June 2014 and they sold down their positions to, in aggregate, 13,152,393 shares or 26.7% of TBC Bank's share capital during its IPO in June 2014. Following TBC PLC's listing on premium segment of LSE in August 2016, the IFI shareholders held, in aggregate, 23.2% of TBC PLC's share capital. After EBRD's partial sale of its shareholding in TBC PLC, the IFI shareholders' aggregate holding will (according to TBC PLC's internal estimates and assuming no other acquisitions by the IFI shareholders) amount to approximately 11.3% of the total share capital of TBC PLC. For further enquiries, please contact: Head of Investor Relations Anna Romelashvili [e-mail] About EBRD The EBRD is a multilateral bank committed to the development of market-oriented economies and the promotion of private and entrepreneurial initiative in more than 30 countries from Morocco to Mongolia and from Estonia to Egypt. The Bank is owned by 65 countries, the EU and the EIB .For more information please visit www.ebrd.com. About TBC PLC TBC PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC PLC became the parent company of JSC TBC Bank ("TBC Bank") on 10 August 2016. TBC PLC is listed on the London Stock Exchange under the symbol TBCG. TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 30.3% of loans (or 37.8% taking into account TBC Bank's holding in JSC Bank Republic and 33.4% of non-banking deposits (or 37.6% taking into account TBC Bank's holding in JSC Bank Republic) as at 31 March 2017, according to the data published by the National Bank of Georgia

 

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