Telelink Business Services Group

Close to 8% of the shares of Telelink Business Services Group AD (TBS Group) were successfully placed among investors within the first tranche of the company’s offering on the Bulgarian Stock Exchange. From June 8th to 11th, the selling shareholders Lyubomir Minchev, Ivo Evgeniev and Spas Shopov sold a total of 982 487 shares at a fixed selling price of 7.60 Bulgarian levs per share.

“I am happy that our shareholding structure expanded and now includes new foreign and Bulgarian investors. For us it is extremely important that we have gained investors’ trust, despite the difficult economic and market situation,” said Ivan Zhitiyanov, TBS Group CEO.

“As manager of the offering, we are satisfied by the result. We believe that our biggest success is that we managed to attract foreign investors in TBS Group – something that hasn’t happened in the Bulgarian market for a quite a while. We are also grateful to the local institutional and individual investors who have again supported the market,” said Radoslava Maslarska, board chairperson of the issue’s manager ELANA Trading.

The new shareholders in the company include 300 Bulgarian and foreign individuals and legal entities, as the share of institutional investors is about 80%. Among the individual investors is a large number of Telelink Business Services Group employees as well as part of its corporate and administrative management.

“The participation of part of the management and employees shows our trust in the company and the long-term development potential that we see in it,” Zhitiyanov added.

According to the Sale Procedure approved by the selling partners, the initial offering within Tranche 1 totaled 875 000 shares, or 7% of the company’s capital. As a result of the high interest, and in line with the Procedure, the selling shareholders subsequently offered additional 107 487 shares which were also successfully placed. Tranche 2 of the share offering will be in the autumn of 2020, as its volume and price will be set according to the initial plans.

TBS Group website

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