Home / Banking / Societe Generale Sells TBC Bank Stake to European and US Investors at LSE

Societe Generale Sells TBC Bank Stake to European and US Investors at LSE

Societe Generale, French financial institution, has sold its 5.61% stake in TBC Bank to British, European and US institutional investors.

As reported, Societe Generale took over a stake in TBC Bank after the latter bought Bank Republic in 2016.

“Sales and acquisition of shares at a stock exchange is a normal process. TBC Bank’s development level has enabled to make such a major deal and sell shares of about 50 million GBP in a day”, Giorgi Shagidze, TBC Bank deputy director, said.

At this stage, major investors of TBC Bank are as follows: EBRD (8,4%), JP morgan (7,77%), Schroder Investment Management (7.72%), Dunross&Co (5.70%).

Societe Generale owned 2.8 million shares of TBC Bank. Initially, value of a TBC Bank share was 12.91 GBP, while yesterday the price per share marked 15.25 GBP.