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Co-founder to sell minority stake in Bulgaria's TBS Group

21/2/2023
 
Lubomir Minchev, the co-founder and majority shareholder of Bulgarian IT services management provider Telelink Business Services Group, or TBS Group [BUL:TBS], said he plans to offer a minority stake in the company on the Bulgarian Stock Exchange in the coming months while retaining majority shareholding.TBS Group CEO Ivan Zhitiyanov said last week that he intends to propose scrapping an obligation to distribute at least 50% of the company's profit as dividend and instead reinvest in acquisitions and other initiatives to develop and expand the company.

Such a strategy presents different potential returns and risks, Minchev commented, adding that his planned share offering is aimed at creating opportunities for risk diversification and attracting new investors.
As of the end of September, Minchev held a 66.97% stake in the TBS Group's equity capital.
TBS Group said last week that its indicative preliminary consolidated net profit declined to 5.5 million euro ($5.84 million) in 2022 from 6.3 million euro a year earlier, dragged down by lower revenue.


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  • Home
  • News
  • Events
    • 2023
      • CEE Business Services Summit & Awards 2023
      • BSC Directors VIP WineTastings 2023
      • BSC Charity Beach Volleyball Tournaments - June and August 2023
      • Build it or Buy It?: Outsourcing in CEE and Poland
  • CEE BSC Summit & Awards
    • 2023
      • Winners & Shortlist 2023
      • CEE Business Services Summit & Awards 2023
      • Photos: Awards Gala
      • Photos: Summit Days
      • 8 March: Showcase
      • 9 March: Agenda
      • Attendance
      • The Jury 2023
      • Sponsorship & Branding
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    • 2022
      • Winners & Shortlist 2022
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    • Events Videos
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    • Update Directory Listing (2023)
    • Buy Print Directory
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    • Advertise in Online Directory
  • Solutions
    • Boost your Brand - BSCs only
    • Meet the Directors-Videos
    • Cee BSC Tickets
  • SSC Volleyball
    • 2023
      • BSC Charity Beach Volleyball Tournaments - June - August 2023
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      • Credit Card Payment
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