trending Market Intelligence /marketintelligence/en/news-insights/trending/3RSbvo445F5BRAQ_mMCGkg2 content esgSubNav
In This List

EBRD cuts stake in Georgia's TBC Bank

Blog

Global Capital Markets & SPAC Activity – H1 2021

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration


EBRD cuts stake in Georgia's TBC Bank

The European Bank for Reconstruction and Development sold 30% of its stake in TBC Bank Group Plc to U.K., U.S. and European institutional investors.

The bank off-loaded 1.9 million shares through an accelerated bookbuild offering after market close June 5, with the deal closing at a small discount to the prior-day closing price of £17 per share. The bank agreed to a 90-day lock-up period on its remaining stake.

TBC Bank Group has 52,682,843 shares in issue, according to S&P Global Market Intelligence data, implying that the shares sold by the EBRD amount to roughly a 3.6% stake.

TBC Bank Group is the London-listed parent of Georgian lender JSC TBC Bank.