TBC Bank estimates Societe Generale’s share sale at TBC Bank as a normal process on the background that the French bank has already announced to withdraw from Georgia.
Deputy General Director of TBC Bank focuses on the great interest towards the bank’s shares.
“Buying and selling shares is a normal process when the company is traded on the stock exchange. It should be noted that TBC has been developed so, that it can make a transaction of over 50 mln GBP in a day”, – said Giorgi Shagidze.
It is noteworthy that Societe Generale’s 5.61%-share in TBC Bank has been bought by the institutional investors from Great Britain, Europe and America.
As of today, TBC Bank’s major international investors are EBRD (8,4%), JP Morgan (7,77%), Schroder Investment Management (7.72%), Dunross & Co (5.70%).
The Bank notes that Societe Generale had a 2.8 million stake in TBC Bank. When TBC Bank shares were handed over to Societe Generale, per share value was 12,91 GBP, while the price was 15.25 GBP yesterday.