Telelink Business Services Group’s (TBS Group, TBS BU) majority shareholder Lyubomir Minchev and the other main shareholders have decided to end share sales in tranches on the Bulgarian stock exchange, according to Mr. Minchev’s statement distributed by the Company. Please note that TBS Group’s shareholders have already placed 21% of the share capital of the Company in three tranches on the BSE as a part of their plan to build up to 30% free float by the end of 2021.
The main shareholders are satisfied with the current free float and have decided to focus on potential strategic sale of the Company to a large investor to accelerate its growth in the regional and international markers. According to Minchev’s statement, the strong financial performance in the past years has already drawn the attention of sizable international players in the ICT business with established presence in the Balkan region as well as Western Europe. Accordingly, Mr. Minchev and the other two selling shareholders expressed their readiness to offer a majority stake of above 50%, as early as the beginning of 2022.