TBS Group delays Sofia bourse listing to June 8

TBS Group delays Sofia bourse listing to June 8

The Bulgarian Stock Exchange said on Thursday that local Telelink Business Services Group (TBS Group) will start trading on the bourse on June 8, instead of the initially announced June 1 date. All other parameters remain unchanged, the Sofia bourse said in a statement. 

On Wednesday, the company said it generated a consolidated net profit of 3.6 million levs ($2.0 million/1.8 million euro) in the first quarter of 2020 on revenue of 37.2 million levs.  

TBS Group said in January that its majority owner Lubomir Minchev and the rest of the shareholders with voting rights have decided to offer for sale up to 3.75 million existing shares, equal to 30% interest, in several tranches at a bottom price of 7.60 levsapiece. 

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.

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