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BGI advises on TBC Bank IPO and listing on London Stock Exchange

BGI Legal has recently advised the joint bookrunners on TBC Bank's IPO and listing on the London Stock Exchange.

TBC Bank JSC, the leading Georgian bank, was admitted to London Stock Exchange on 11 June 2014, with the price of the global depositary receipts (GDRs) listed exceeding GEL 400,000,000. The global offering of total 20,200,000 GDRs included both primary component and secondary shares coming from the existing shareholders.

BGI's team comprised Lasha Gogiberidze, Unana Gogokhia and Sandro Bibilashvili.

Barclays and UBS acted as joint global coordinators and joint bookrunners for the flotation with Renaissance Securities (Cyprus) Limited acting as a bookrunner and Peel Hunt as co-manager.

“Listing of our stock on London Stock Exchange is a recognition that TBC Bank, as a financial institution corresponds to the world's highest standards. Moreover, the IPO allows us to further improve our business processes and ensure that the Bank's corporate governance is aligned with international best practices. What is most important, this is an enormous investment, which will support the development of the Georgian economy and increase investor confidence towards companies operating in Georgia – factors that ultimately contribute to the country's long-term economic development.” stated TBC Banks CEO Vakhtang Butskhrikidze.

Lasha Gogiberidze commented, "BGI Legal was delighted to be involved in this significant listing which will have a positive impact on the development of the Georgian economy."

Solid team with vast experience of handling a wide spectrum of corporate and commercial as well as financial matters. Particularly well versed in project finance and boasts an impressive track record in some of the country's biggest energy and infrastructure projects. Popular choice for prominent international and local clients, including financial institutions and corporates from an array of industry sectors. Clients are impressed with the team's approach, saying: "The best thing is their coming up with proactive advice and suggesting a structure. They are able to work under pressure and respond immediately." Another client adds: "As soon as we give them a project we don't need to double-check anything." Other typical comments are: "They are a top-tier firm on the market with highly skilled, efficient and solution-oriented lawyers."

Chambers Europe - 2017

Zaza Bibilashvili is a well-known and highly regarded figure in the Georgian legal market. One of the founding partners of the firm, he oversees projects and is a key contact for clients. Lasha Gogiberidze has been called "one of the leading lawyers in Georgia" and "a central person not just in capital markets, but in the legal market in general." Considered an expert in capital markets and project finance work, particularly in the energy sphere, he is highly respected by his peers, who say: "He`s among the top lawyers who shaped the legal market."

Chambers Global - 2016

Lasha Gogiberidze maintains an excellent reputation for his expertise in capital markets and project finance, handling some of the market's most prominent lending transactions. Clients highlight him as an "open-minded" practitioner who "always comes up with a good solution" and provides advice which is "straight to the point and concise." Zaza Bibilashvili has experience of handling some of the biggest mandates in the market, most recently advising on substantial real estate projects. He is also a noted practitioner in the dispute resolution arena.

Chambers Global - 2017