TCS Group Holding PLC (TCS)
Tinkoff announces start of trading of its Global Depositary Receipts on
Moscow Exchange
28-Oct-2019 / 10:08 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Tinkoff announces start of trading of its Global Depositary Receipts on
Moscow Exchange
Limassol, Cyprus - 28 October 2019. TCS Group Holding PLC (TCS LI)
("Tinkoff", the "Company"), Russia's leading provider of online financial
and lifestyle services via its Tinkoff ecosystem, announces the start of
trading of its Global Depositary Receipts ("GDRs", ticker: TCSG) on Moscow
Exchange today.
Chairman of the Management Board and CEO of Tinkoff Oliver Hughes and Moscow
Exchange Chairman of the Supervisory Board Oleg Viyugin participated in an
official ceremony at Moscow Exchange to mark the start of trading of
Tinkoff's GDRs.
Oleg Tinkov, the Founder and Chairman of the Board of Directors of Tinkoff,
commented: "This listing of Tinkoff GDRs on Moscow Exchange is a huge
milestone for our company. For several years now, Tinkoff has been a major
driving force in the development of Russia's retail investor market,
contributing significantly to its explosive growth. We are thrilled that,
starting today, investors can now also trade Tinkoff GDRs on Moscow
Exchange."
Oleg Vyugin added: "Tinkoff's listing on Moscow Exchange is a significant
event for the Russian stock market. Institutional and retail investors will
be able to buy GDRs in one of Russia's most innovative companies within the
domestic legal framework and on a trading platform they are familiar with.
We are seeing a trend for Russian companies listed abroad to come to Moscow
Exchange and thus expand their investor base, increase the liquidity of
their shares and support growth of their market capitalisation. Moscow
Exchange is the primary platform for pricing Russian assets, and is equally
convenient for international and Russian investment funds, as well as more
than three million Russian individual investors. I wish Tinkoff every
success on the Russian stock market."
Oliver Hughes said: "Tinkoff has transformed the way that Russians think
about banking and secured its place as Russia's fintech leader. Tinkoff is
also a key driver behind a rapid inflow of retail investors on to the
Russian stock market. Tinkoff Investments app accounts for over 30% of
retail investment accounts registered on the Moscow Exchange. Our listing on
Moscow Exchange should expand the Company's investor base to include Russian
investors who are not present in London and will support liquidity. We are
excited to welcome our new investors via Moscow Exchange and we are
confident that this move will support the liquidity and market
capitalisation growth of Tinkoff going forward."
Earlier, the Company announced that Moscow Exchange had approved the listing
of the Company's Global Depositary Receipts (ISIN US87238U2033). The
Company's GDRs have been included in the Level 1 List.
Renaissance Capital has acted as the Company's adviser in connection with
the secondary listing of global depositary receipts on Moscow Exchange.
For enquiries:
Tinkoff Tinkoff
Alexander Leonov Larisa Chernysheva
PR Department IR Department
+ 7 495 648-10-00 (ext. 35738) + 7 495 648-10-00 (ext. 2312)
media@tinkoff.ru ir@tinkoff.ru [1]
About Tinkoff Group
TCS Group Holding PLC is an innovative provider of online retail financial
services. It includes Tinkoff Bank, mobile virtual network operator Tinkoff
Mobile, Tinkoff Insurance, management company Tinkoff Capital, Tinkoff
Software DC, a network of development hubs in major Russian cities, and
Tinkoff Education. The Group is currently developing Tinkoff ecosystem,which
offers financial and lifestyle services.
The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has
been listed on the London Stock Exchange since October 2013.
The Group's key business is Tinkoff Bank, a fully online bank that serves
around 10 mn customers and forms the core of the Tinkoff ecosystem.
Tinkoff Bank is the second largest player in the Russian credit card market,
with a share of 13%. The 1H 2019 IFRS net income of TCS Group Holding PLC
amounted to RUB 15.4 bn. The ROE was 64.3%.
With no branches, the Group serves all its customers remotely via online
channels and a cloud-based call centre. The centre is staffed by over 10,000
employees, making it one of the largest in Europe. To ensure smooth delivery
of the Group's products, the Group has a nationwide network of over 2,500
representatives.
In 2018, Global Finance named Tinkoff Bank the world's Best Consumer Digital
Bank, and in 2019, 2018, 2016 and 2015, the Best Consumer Digital Bank in
Russia.In 2017 and 2013, the Banker recognised Tinkoff Bank as the Bank of
the Year in Russia. The bank's mobile app has been consistently praised by
local and global independent experts as the best of its kind (in 2013, 2014,
2015, 2016 by Deloitte and in 2018 by Global Finance).
Forward-looking statements
Some of the information in this announcement may contain projections or
other forward-looking statements regarding future events or the future
financial performance of the Group and Tinkoff Bank. You can identify
forward looking statements by terms such as "expect", "believe",
"anticipate", "estimate", "intend", "will", "could," "may" or "might", the
negative of such terms or other similar expressions. The Group and Tinkoff
Bank wish to caution you that these statements are only predictions and that
actual events or results may differ materially. The Group and Tinkoff Bank
do not intend to update these statements to reflect events and circumstances
occurring after the date hereof or to reflect the occurrence of
unanticipated events. Many factors could cause the actual results to differ
materially from those contained in projections or forward-looking statements
of the Group and Tinkoff Bank, including, among others, general economic
conditions, the competitive environment, risks associated with operating in
Russia, rapid technological and market change in the industries the Group
operates in, as well as many other risks specifically related to the Group,
Tinkoff Bank and their respective operations.
ISIN: US87238U2033
Category Code: MSCH
TIDM: TCS
LEI Code: 549300XQRN9MR54V1W18
Sequence No.: 25284
EQS News ID: 897837
End of Announcement EQS News Service
1: mailto:ir@tcsbank.ru
(END) Dow Jones Newswires
October 28, 2019 03:08 ET (07:08 GMT)
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