Georgian TBC Bank Group buys stake in its Uzbekistan branch
BAKU, Azerbaijan, Aug. 14
By Ilkin Seyfaddini - Trend:
Georgian TBC Bank Group PLC acquired 45.8 percent of TBC Bank Uzbekistan branch in the over-the-counter market in August 2020, Trend reports with reference to nuz.uz news agency.
The bank acquired over 101 million shares. Together with the previously acquired volume, the number of securities exceeded 221 million. The amount of the transaction is not disclosed.
TBC Bank Uzbekistan, which is located in Yunusabad district, received a banking license from the Central Bank of Uzbekistan on April 11, 2020, and started operating on April 23, 2020.
In April 2020, the bank acquired a controlling stake in Payme payment service for $5.5 million.
Earlier, Georgian bank announced its plans to open three branches in Tashkent during 2020.
Georgian TBC Bank was founded in 1992. Online banking from TBC has been awarded as one of the best in Central and Eastern Europe for several years in a row (from 2012 through 2015).
In June 2014, the London Stock Exchange invited TBC Bank to participate in trading with its Global Depositary Receipts (GDR). The bank received $239 million for its IPO (initial public offering) with a market value of $640 million. This IPO was the largest public offering from Georgia.
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