TBC Bank Uzbekistan is preparing to issue additional share capital. An extraordinary meeting of shareholders held on October 10 approved the move. The securities will be distributed among three shareholders — parent banking group TBC Bank Georgia, the European Bank for Reconstruction and Development (EBRD) and the World Bank's International Finance Corporation (IFC).
The bank will place 251,714,359 shares with a par value of UZS 1,000. Of these, 60.2% will be received by the parent credit institution, and another 19.9% will be received by the international lenders.
The securities will be placed at the nominal price of UZS 1,149. Thus, total additional capitalisation will amount to UZS 289.28bn ($23.67mn).
The EBRD and IFC announced their purchases of shares in TBC Bank Uzbekistan in autumn 2021. Both entities acquired 20% of the bank's shares, paying $9.4mn.
August last year saw the second round of recapitalisation in which the international shareholders allocated $7mn to the bank, and the parent bank $21.1mn.
The third round took place in April this year. Investors provided TBC Uzbekistan with a total of $28.1mn.
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