Société Générale Sells Holding in TBC Bank Group

RNS Number : 4727J

TBC Bank Group PLC

28 June 2017

 

Société Générale Sells Holding in TBC Bank Group PLC ("TBC PLC")

TBC PLC (LSE: TBCG) was notified on 28 June 2017 by Société Générale S.A. ("Société Générale")  that it has sold its entire holding of 2.8 million ordinary shares in TBC PLC.

The shares sold by Société Générale were acquired by a number of institutional investors from the UK, USA and Europe through an accelerated bookbuild offering managed by Renaissance Capital and Barclays Bank PLC. 

Société Générale became a shareholder in TBC PLC following the acquisition in October 2016 by TBC PLC of JSC Bank Republic from Société Générale for a combination of cash and equity share consideration. The lock up period applied to Société Générale's holding ended on March 1 2017.

For further enquiries, please contact:

Head of Investor Relations

Anna Romelashvili 

[e-mail]

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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