OREANDA-NEWS. Renaissance Capital, a leading emerging and frontier markets investment bank, today announces the successful completion of the sale of Deutsche Investitions- und Entwicklungsgesellschaft’s (DEG) remaining holding in TBC Bank, a leading universal bank in Georgia.

DEG was one of TBC Bank’s four International Financial Institution (IFI) shareholders holding 3.6% of the Bank. DEG’s shares were acquired by a number of institutional investors from the UK and Continental Europe.

The placement of the TBC Bank shares is the sixth equity transaction in Georgia since 2013 completed by Renaissance Capital.

John Porter, Head of Financing Group, Renaissance Capital, commented: “We are pleased to work on yet another equity transaction in Georgia, which has seen solid demand among UK and European investors. We are committed to working further in Georgia in order to provide overseas investors with greater access to this lucrative investment market.”

Renaissance Capital also acted as the joint bookrunner of TBC Bank’s IPO on the London Stock Exchange in June 2014.

Renaissance Capital is a leading emerging and frontier markets investment bank with operations in Russia, Eastern Europe, the Middle East, Asia and Africa, and offices in major financial centres, such as London, New York and Dubai. In September 2015, the Firm celebrated its 20th anniversary. Over those years, Renaissance Capital has established market-leading positions in each of its core businesses – M&A, equity and debt capital markets, securities sales and trading, research and derivatives. The Firm continues to build its practices in metals & mining, oil & gas and agriculture across its target markets. Renaissance Capital is part of ONEXIM Group.

JSC TBC Bank is a leading universal bank in Georgia, offering a broad range of products and services through its extensively developed corporate, retail, SME and micro banking business lines. As at 30 September 2015, TBC's loan book comprised retail, corporate, SME and micro portfolios with 42%, 34%, 13% and 11%, respectively, of the total loan portfolio. TBC Bank is the market leader in Georgia in retail deposits with a 35% market share. In terms of total assets and total loans TBC retains a leading position with market shares of 27% and 28%, respectively, as at 30 September 2015. TBC Bank is assigned BB- (Long-Term IDR) / B (Short-Term IDR) rating from Fitch and B1 (Fgn Curr) / Ba3 (Dom Curr) from Moody's.