Business
EBRD reduces holding in TBC Bank Group PLC
EBRD reduces holding in TBC Bank Group PLC.
About this update from Tbc Bank Group Plc
[{"type":"text","content":"\n \nRNS Number : 3409H TBC Bank Group PLC 06 June 2017 \n\n\n\n\n\nEBRD reduces holding in TBC Bank Group PLC (\"TBC PLC\")\nTBC 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.\n \nThe 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. \nEBRD 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. \nThe 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.\nAfter 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.\n \nFor further enquiries, please contact:\nHead of Investor Relations\nAnna Romelashvili \[email protected]\n \n \n \nAbout EBRD\nThe 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.\n \n \nAbout TBC PLC\nTBC 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 (\...