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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."

"One of the leading firms in Georgia adept at both finance and corporate work". Client feedback: "Very good law firm for this jurisdiction. Strong knowledge." - Banking and finance, Restructuring and insolvency. Of Lasha Gogiberidze: "Good communication skills, responsive." Previous comments have included: "BGI Legal is one of the leading firms in Georgia adept at both finance and corporate work...Very good law firm for this jurisdiction...very knowledgeable, they get the job done on time and on budget". Lasha Gogiberidze is described as "prompt and quick to point out problems and pitfalls".

IFLR1000 - 2018

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

Excellent team known for acting on high-profile and significant mandates. Clients commend the team's expertise, saying: "They are all very solid, have excellent knowledge, are hard-working and give great practical advice." They further praised the service adding that the lawyers are "client-oriented, quite patient and understand the client's internal procedures."

Chambers Europe - 2017