Harneys Cyprus advises on US$300 million sale of global depository receipts

Harneys advised TCS Group Holding PLC (the Company) on all Cypriot law and regulatory aspects in connection with the offering and sale of 16,666,667 global depositary receipts representing interests in Class A shares of the Company at a price of US$18 per GDR, raising aggregate gross proceeds of US$300,000,006. The Company, together with its consolidated subsidiaries, including Tinkoff Bank, is Russia's leading provider of online retail financial and lifestyle services via its Tinkoff.ru financial ecosystem. Morgan Stanley & Co. International plc acted as global coordinator and joint bookrunner in connection with the offering. A consortium of leading international investment banks also acted as joint bookrunners.

Harneys Partner Nancy Erotocritou led the team with assistance from Senior Associate Valentina Hadjisoteriou and Associate Elina Mantrali.