Oleg Tinkov to sell TCS Group shares for $325 million

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AK&M 14 December 2020 11:55

Rigi Trust, a fund controlled by Oleg Tinkov, is set to sell global depositary receipts of TCS Group accounting for about 5.3% of the company's capital, TCS informed.

A total of 10,655,737 GDRs will be offered at a price of $30.5 per security. $325 million will be raised during the SPO. As a result of the offering Rigi Trust will own 35.1% of TCS Group’s capital, the free float will be 58.4%.

TCS Group Holding PLC is an innovative online provider of retail financial services, which comprises Tinkoff Bank, mobile virtual network operator Tinkoff Mobile, Tinkoff Insurance, asset management company Tinkoff Capital, Tinkoff Development Center (a network of R&D centers in major Russian cities), as well as autonomous nonprofit organization Tinkoff Education. The group is developing the Tinkoff ecosystem providing financial and lifestyle services to its clients. The group founded in 2006 by businessman Oleg Tinkov is listed on the London Stock Exchange and the Moscow Stock Exchange.