News
Team promotions at BGI Legal
16 June 2014BGI Legal is delighted to announce a number of promotions as the firm continues to expand and develop its team.
Oto Kakhidze has been promoted to partner with effect from June 16th 2014 whilst Unana Gogokhia has been appointed as a director.
Tamuna Gvaramia has been promoted to senior associate and Sopho Natroshvili has been appointed as a junior associate.
BGI advises on TBC Bank IPO and listing on London Stock Exchange
13 June 2014BGI 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."
Lasha Gogiberidze invited to speak at Mongolia`s first international conference on Commercial Arbitration
30 May 2014Lasha Gogiberidze was recently invited to attend Mongolias first International Conference on Commercial Arbitration. Nearly 300 hundred representatives from the Ministry of Justice, the arbitration working group, the Supreme Court, Court of Appeal and District Court, and the Mongolian private sector attended the conference which was held over two days.
Participants commented on Lasha's presentation and responses to questions which confirmed his in-depth knowledge of the subject. It is hoped the conference will help with the momentum for change in shaping a a modern Mongolian arbitration system.
Discussion notes and further details on speakers' presentations including Lasha's can be found by following this link:
BGI Legal acts as counsel for BG Capital and TBC Bank
18 March 2014BGI Legal has recently acted as counsel in the first-ever bond issuance in Georgian lari placed by the EBRD (European Bank for Reconstruction and Development) in Georgia. The two-year bond was equally subscribed by TBC Bank and JSC BG Capital, who acted as the lead managers and underwriters to the transaction.
The deal will undoubtedly support the development of the local capital markets and as Vakhtang Butskhrikidze, CEO of TBC Bank remarked, "This new bond issuance will increase access to local currency financing, which is an important source for business growth in Georgia".
Bruno Balvanera, EBRD Director for Caucasus, Moldova & Belarus said, “This is a very significant step for the Georgian local capital market. It brings a new instrument for investors and, at the same time, allows the EBRD to diversify its source of lari and to continue lending to companies in need of long-term financing in local currency".
Lasha Gogiberidze who led BGI's team commented, “In line with our long established tradition for representing clients in a flagship transaction, we are very proud to have been part of the effort in bringing this project to a successful conclusion”.