TBC Bank moved to London Stock Exchange's Premium Segment
Wednesday, September 28
TBC Bank moved to the premium segment of London Stock Exchange. An official ceremony to mark the occasion was held in London. TBC Bank's chairman of supervisory board, Mamuka Khazaradze, representatives of the bank and Minister of Economy and Sustainable Development of Georgia Dimitri Kumsishvili were attending the event.
“For our bank, a move to the LSE premium segment means an unlimited opportunity for development, the expansion of our investor base and the potential to increase the liquidity of our stocks. As for the local market, this means our clients are receiving financial services from an even more stable bank, which is managed using the highest standards” - stated TBC Bank's chairman of supervisory board, Mamuka Khazaradze.
TBC Bank's shares have been listed on LSE since 2014. Over the past two years, the bank has demonstrated top results in corporate governance and proved that it is a company of the highest standards, which has earned the right to move to the premium segment of the LSE.
Now TBC Bank shares are available to the world's largest and the most influential investors. This is a great opportunity for TBC Bank as there are only 12 banks in the LSE premium listing worldwide, including large banks like Barclays, Lloyds and HSBC.
The companies listed in the premium segment are regulated by the strictest standards, which implies that TBC Bank meets the strictest requirements for transparancy and corproate governance and will continue to do so. Hence, for TBC Bank this is an opportunity to raise the bareven higher and share the world's best service pratices with its customers.
“For Georgia, our presence in the LSE premium segment will contribute to increasing awareness about our country and will also create the necessary preconditions for businesses operating in Georgia to enter the international arena,“ - stated TBC Bank's CEO Vakhtang Butkhrikidze.
In the nearest future, TBC Bank plans to become a candidate to entering the FTSE-250 list. This will further increase the availability of the bank’s shares and consequently, impact stock liquidity.
TBC Bank placed up to 50m shares on the LSE premium segment.
