As part of the IPO, certain existing TBTG shareholders will have to sell a portion of their existing shares. This includes Thakral. The group has in-principle committed to sell up to 2,864,515 TBTG shares representing an effective pre-dilution interest of 2.86%. Based on the indicative price range for the IPO as stated above, the group would receive a minimum of GBP 6.97 million and a maximum of GBP 8.09 million upon completion of the sale.
The total carrying value of the group’s investment in TBTG as at Dec 31, 2024, stood at $17.1 million.
The group said that it has noted the potential of a positive uplift to its overall financial position arising from the TBTG share sale and an increase in value of ots remaining effective interest of about 6.04% in TBTG held immediately following admission through parent company Project Glow Topco Limited.
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As at 10.00am, shares in Thakral are trading 1.87% higher at $1.63.
