About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
PM in London for TBC Bank's IPO at LSE
Civil Georgia, Tbilisi / 11 Jun.'14 / 13:52

Georgian PM Irakli Garibashvili attended at the London Stock Exchange (LSE) initial public offering of TBC Bank on June 11.

TBC Bank, which has become the second Georgian company to be listed on LSE, raised USD 239 million at IPO, giving it a market value of USD 640 million. Last week TBC Bank said that offer price was set at USD 13 per global depositary receipts (GDR); in May indicative price range was set at USD 13 to USD 16 per GDR. The bank said that it would direct net proceeds from the offer towards intended growth of its loan portfolio in the retail, small and medium enterprise and microfinance segments.

“Success of this transaction repeatedly proves that investors are convinced that environment in Georgia is stable, predictable and potential for sustainable growth is in place,” PM Garibashvili said.

TBC’s rival, Bank of Georgia (BoG) was the first Georgian company to list its shares in a form of GDR on LSE in 2006; then President Mikheil Saakashvili attended BoG’s IPO at LSE. BoG took premium LSE listing in early 2012.

TBC and BoG, Georgia’s two largest banks, control about 60% of loans and deposits, nearly six times more than that of the next largest bank.

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2021, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.