On 11th June 2020, 5:00pm to 6:00pm (+3 GMT), ICT-focused Telelink Business Services Group will hold an online Investors event to present Q1 2020 Financials and answer to questions by current and potential investors.
The event will be held in English. During this digital event, the CEO of Telelink Business Services Group AD (TB Group) Ivan Zhitiyanov will present to shareholders and potential investors the financial results of the company as well as details about the listing of TBS Group on the Bulgarian Stock Exchange.
Overwhelming debut on the Bulgarian Stock Exchange
Telelink Business Services Group’s (TBS Group) (TBS BU) public offering had a strong first day on 8 June 2020 with 82.8% of the 875 000 shares (7% of the capital) put on sale having been bought. The minimum price was 7.60 Bulgarian levs per share. The public offering of TBS Group shares is planned in two stages – first launched from 8th June to 19th June, and the second – in September. The offering is managed by Elana Trading AD.
In an interview for Bloomberg TV Bulgaria, TBS Group CEO Ivan Zhitiyanov said a substantial interest by local and international investors has been witnessed. Members of TBS Group team have also purchased shares. The Group’s CEO Ivan Zhitiyanov and member of the BoD, Nikoleta Stanailova, have disclosed that they bought shares – the former buying 6 550 shares for BGN 49 780 and the latter buying 2 600 shares for the amount of BGN 19 760.
The company keeps its initial plans to sell up to 30% of its capital in two tranches during 2020 – in June and September. The parameters remain unchanged: a minimum price of 7.60 levs per share for Tranche 1, starting on June 8, and a Tranche 2 price, equal to 8.5 times the EBITDA until June 2020, in September. Tranche 1 is planned for 10 working days until June 19, under the updated Offering Procedure from June 1, 2020.
“The company and its shareholders believe that the road to becoming a public company, which started in the autumn of 2019, is the right one for its long-term development. Our business model relies on complex and long-term contract relationships, which softens the effect of sharp business climate changes like the emergency circumstances related to COVID-19. We believe that the past few months will make our products and services even more attractive on the market and will give us the opportunity to overcome the current situation with even bigger potential in the long term,” said TBS Group CEO Ivan Zhitiyanov.