Georgia's TBC Bank plans London share listing

LONDON Mon May 12, 2014 2:25am EDT

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LONDON May 12 (Reuters) - Georgian lender TBC Bank is to seek a listing on the London Stock Exchange in the second quarter, it said on Monday.

The company said the market flotation will comprise an offering of global depository receipts (GDRs) and it aims to raise around $100 million in primary capital.

It plans to use the proceeds to fuel lending to both retail retail customers and small and medium-sized businesses.

TBC has appointed Barclays and UBS as joint global coordinators and joint bookrunners. Renaissance Capital is also a bookrunner, while Peel Hunt will act as co-manager. (Reporting by Clare Hutchison)

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