TCS primary capital raise closes with 'very full' book

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By Sam Kerr
27 Jun 2019

TCS Group Holding, the Russian financial services company owned by founder Oleg Tinkoff, has completed a $300m primary capital raise by selling Global Depository Receipts (GDRs) on the London Stock Exchange, gathering a strong following from investors for the deal.

Morgan Stanley was the sole global co-ordinator on the deal. Renaissance Capital, Sberbank and UBS were bookrunners.

The trade was launched at 7:30am UK time on Thursday. It took just under an hour for the banks to say that the deal was covered in excess of ...

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