The price of stocks of the Georgian TBC Bank, whose founder Mamuka Khazaradze announced his resignation earlier today, has started to increase.
The price of one stock at the London Stock Exchange amounted to £12.9 late yesterday, while the price now is £13.26.
The price of stocks of the TBC Bank started to decrease on 14 February, when the National Bank of Georgian demanded the withdrawal of the bank’s top figures Mamuka Khazaradze and Badri Japaridze from the bank’s supervisory council due to a money laundering case being investigated by the Georgian Chief Prosecutor’s Office.
Khazaradze stated today that TBC Bank’s foreign shareholders have experienced losses of 200 million USD over the past several days due to the row related to the investigation.
A TBC Bank statement released today reads that both Khazaradze and Japaridze quit the bank’s supervisory council.