EBRD reduces stake in TBC Bank to 3.5 per cent

By Rezo Bitsadze

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  • EBRD reduces its equity stake in TBC, retains 3.5 per cent of total shares
  • The Bank sold 850,000 shares in an accelerated bookbuild placement on the LSE
  • The EBRD continues to support TBC Bank’s long-term growth and international expansion

The European Bank for Reconstruction and Development (EBRD) has reduced its equity stake in TBC Bank, the largest lender in Georgia. The Bank sold 850,000 shares in an accelerated bookbuild placement on the London Stock Exchange (LSE).

The shares sold on 22 November 2022 represent 1.5 per cent of TBC Bank’s total shares. The EBRD retains a 3.5 percent stake in its longstanding partner.

As a continuing shareholder, the EBRD remains confident about TBC Bank’s strong performance and bright prospects for future growth and strategic development. The Bank also remains committed to supporting TBC Bank in its regional expansion.

The EBRD acquired shares in TBC Bank in 2009 as part of a larger funding package. In 2012, together with other international financial institutions as shareholders, the EBRD participated in a rights issue by TBC Bank. Subsequently, the bank was successfully listed on the LSE in 2014, and upgraded into the premium segment of the main market in 2016.

The EBRD is a leading institutional investor in Georgia. Since the start of its operations there, the Bank has invested over €5 billion through 277 projects, with more than 80 per cent of those in the private sector. The Bank’s key areas of investment include the financial sector, sustainable infrastructure and small and medium-sized enterprises (SMEs).

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