Renaissance Capital has completed the sale of Deutsche Investitions- und Entwicklungsgesellschaft’s (DEG) remaining holding in TBC Bank, a leading universal bank in Georgia.
DEG was one of TBC Bank’s four International Financial Institution (IFI) shareholders holding 3.6% of the Bank. DEG’s shares were acquired by a number of institutional investors from the UK and Continental Europe.
The placement of the TBC Bank shares is the sixth equity transaction in Georgia since 2013 completed by Renaissance Capital.
John Porter, Head of Financing Group, Renaissance Capital, says: “We are pleased to work on yet another equity transaction in Georgia, which has seen solid demand among UK and European investors. We are committed to working further in Georgia in order to provide overseas investors with greater access to this lucrative investment market.”
Renaissance Capital also acted as the joint bookrunner of TBC Bank’s IPO on the London Stock Exchange in June 2014.
