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The third tranche of shares by Telelink Business Services Group sold out within minutes from the start of the offering

On June 8 2021, Telelink Business Services Group completed a third offering tranche of 875 000 existing shares at a price of BGN 13.50 per share. While the offering was planned to continue from June 8 to June 2021, all offered shares were purchased within the first 16 minutes after the start of trading. As demand exceeded significantly the planned minimum lot of 6%, in accordance with the updated procedure for the sale of shares, the selling shareholders offered an additional 1%, which also sold out immediately after the first 6% had been placed.

According to information received from offering manager Elana Trading, more than 250 transactions were made with a broad range of investors, with little over half of the shares going to various local and foreign institutional investors, and the remainder – to the retail market.

A year of successful track record as a public company

Telelink Business Services Group AD’s public offering started exactly one year earlier, with selling shareholders realizing a first tranche of 7.86% of the company’s capital at a price of BGN 7.60 per share. Together with the sale of additional 6.14% at a price of BGN 11.10 per share within Tranche 2, total shares sold in 2020 reached 14% of the company existing capital. Adding Tranche 3, shares realized to date reached 21% of the overall public offering target of 30%.

The company attracted both individual and institutional investors, with London-based fund Utilico Emerging Markets Trust plc becoming the first big foreign financial investor to enter the Bulgarian stock market in 10 years.

Since March 2021, the company has been included in the main index SOFIX as one of the biggest and most liquid companies on the BSE.

About Telelink Business Services Group AD

Telelink Business Services Group AD was established in 2019 with the spinoff of activities related to the provision of solutions and services in the field of information and communication technologies out of the group of Telelink Bulgaria EAD. The history of its business dates back to 2004, when it was launched in Bulgaria, and unfolds through a gradual expansion in the region of the Western Balkans and the international market of global IT services. Today, Telelink Business Services Group’s activities are focused on seven technological areas, applying a holistic approach to the challenges of IT. The firm has over 220 employees, presence in seven countries and over 200 clients of different scale and industry domains, as well as a broad network of partnerships with global technological leaders such as Cisco, Microsoft, DellEMC, IBM, VMWare, etc. The company’s mission is to simplify the complex and help its clients in applying technology to the achievement of their goals.