June 2 (SeeNews) - Bulgaria's Telelink Business Services Group (TBS Group) [BSE:TBS] said that its major shareholders have signed an updated public offering agreement, envisaging the offering of 30% interest in the company in two tranches.
The first tranche will comprise 875,000 shares, which will be offered at a price of 7.6 levs ($4.32/3.89 euro) apiece on June 8, when they will officially start trading on the Bulgarian Stock Exchange, TBS Group said in a bourse filing on Monday.
The second tranche is planned for the second half of September, with the price to be determined based on the company's performance. However, the minimum price for the second tranche will also be 7.6 levs per share.
Last week, the company said it generated a consolidated net profit of 3.6 million levs in the first quarter of 2020 on revenue of 37.2 million levs.
TBS Group was spun off from local company Telelink Bulgaria in July 2019, becoming the sole owner of IT infrastructure, information security and digital transformation solutions provider Telelink Business Services and several other units of Telelink, engaged in similar activities.
In 2017, Telelink reorganised its business into four new companies - Telelink Business Services, Telelink Infra Services, Telelink City Services and Telelink Labs. The four companies became part of newly established holding group Telelink Bulgaria.
(1 euro = 1.95583 levs)