Public offering of 30% of shares of international ICT player Telelink Business Services Group will start end-January 2020

Telelink Business Services Group

Telelink Business Services Group

Telelink Business Services Group’s (TBS Group) shares to start trading on the Bulgarian Stock Exchange at a BGN 7.60 minimum price per share, according to the Amendment to the Prospectus, approved by the Financial Supervision Commission on Dec 23rd, 2019. The minimum price has been set by majority shareholder and main selling shareholder Lyubomir Minchev together with the rest of the selling shareholders.

Shares are expected to start trading on the BSE in January 2020 with ELANA Trading sole manager of the offering.

The offering of Telelink Business Services Group

Minchev and the rest of the selling shareholders Spas Shopov and Ivo Evgeniev are considering to sell up to 30% (3 750 000 shares) of the existing shares by the end of 2020. The latter shareholders have additionally agreed to sell no shares below BGN 7.60 per share. By the end of 2021 for Minchev and 2020 for the rest of the selling shareholders. All existing shareholders have also signed a Lockup agreement outlining what shares all of them are allow to sell by the end of 2020. Only three of the existing shareholders will take part in the offering and the number of shares on offer is not to exceed the fixed size by the end of 2020.

About Telelink Business Services Group

TBS Group is a comprehensive international ICT power house, system integration leader in Bulgaria and key ICT player on the Balkans. It has subsidiaries in Serbia, Montenegro, Slovenia and Bosnia and Herzegovina and recently established two outlets in Albania and Macedonia.

The Group focuses in seven major technological groups which include service provider (telecom) specific and enterprise networking solutions, private and cloud based data center offerings, application services, office productivity and information security. It services an extensive client list from 30+ countries and well positioned in the telecom, banking, healthcare, utility and the public sectors.

Paving the way to be the biggest IT company on the Bulgarian Stock Exchange

In 2018, TBS Group posted BGN 7.7 million in combined net income, up 63.9% y/y and BGN 116.4 million in combined revenue, up 9.8% y/y.

The BGN 7.6 per minimum price per share yields BGN 95 million market cap for the company or 12x P/E ttm based on FY2018 financial results. This will make it the biggest technological company on the Bulgarian capital market.

Investors web page by Telelink Business Services Group