TBC Bank sets range after calming investor worries

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By Andrew Griffin
29 May 2014

Georgian TBC Bank is set to be valued at up to $765m as it starts bookbuilding on the country's second ever IPO on Monday, after an educational period spent calming investors' worries about the region.

Global depository receipts representing one share each will be sold for $13-$16 each. The deal will represent up to 50% of the bank's enlarged share capital, including a $100m primary component.

IFC, EBRD, DEG, JP Morgan and Ashmore will sell shares through the deal. EBRD will keep 10% ...

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