BGEO completes $70m buyout of Georgian Global Utilities
21st Jul 2016 09:12
(ShareCast News) - BGEO Group announced on Thursday that JSC BGEO Investments, a wholly-owned subsidiary, has completed the recently-announced acquisition of the remaining 75% equity stake in Georgian Global Utilities. The FTSE 250 firm owns 100% of GGU as a result of the buyout. It had initially a
Read moreBGEO buys up rest of Georgian Global Utilities
23rd Jun 2016 07:56
(ShareCast News) - BGEO Group announced on Thursday that its wholly-owned subsidiary JSC BGEO Investments has acquired the remaining 75% equity stake in Georgian Global Utilities for cash consideration of $70m. The FTSE 250 firm said that as a result of the buy-out, it will own 100% of GGU, with the
Read moreFirst-quarter profits surge at BGEO
24th May 2016 07:32
(ShareCast News) - First-quarter profits at Georgia-focused banking group BGEO were up by an impressive amount, it reported on Tuesday, growing 39.6% year-on-year to GEL 87m (£25.5m). The FTSE 250 firm reported earnings per share in the three months of GEL 2.10, up 28% on the same period last year.
Read moreBGEO completes pharmaceutical retail acquisition
5th May 2016 12:08
(ShareCast News) - Bank of Georgia holding company BGEO Group confirmed its healthcare arm has completed the acquisition one of the top three pharmaceutical retailers and wholesalers in Georgia. Georgia Healthcare Group, which last year contributed almost a third of group revenue, received regulator
Read moreBGEO's Georgia Healthcare acquires GPC for $14m
16th Mar 2016 07:46
(ShareCast News) - BGEO Group, the holding company of JSC Bank of Georgia, said one of its subsidiaries has signed a binding memorandum of understanding to buy Georgian pharmacy chain JSC GPC for $14m (£9.9m) in cash. Georgia Healthcare Group (GHG) will pay 85.7% of the cash consideration upon the s
Read moreHealthcare, banking boost BGEO full year profits
16th Feb 2016 09:04
(ShareCast News) - Bank of Georgia holding company, BGEO posted a 29% rise in 2015 profits to £87.6m boosted by a record revenues from its healthcare and banking businesses. Revenues were up 39.6% to 751.3m Georgian laris (GEL), or £202m, while earnings per share rose 18% to GEL 7.93 (223p). BGEO s
Read moreFTSE 250 movers: Banking and investment firms drive market down
3rd Feb 2016 16:14
(ShareCast News) - The FTSE 250 was down 289.58 points (1.78%) to 16,010.10 shortly before the close on Wednesday. Allied Minds continued to fall after rising earlier in the week on the back of news its subsidiary Federated Wireless completed a successful $22m (£15.4m) Series A Preferred fundraising
Read moreBGEO merges corporate banking and investment management businesses
2nd Feb 2016 08:07
(ShareCast News) - BGEO Group said on Tuesday that it has merged its corporate banking and investment management businesses into a corporate investment banking business. BGEO, which is the holding company for Bank of Georgia, said combining the businesses will help it to grow its fee income, improve
Read moreBank of Georgia healthcare unit IPO priced at 170p a share
9th Nov 2015 08:00
(ShareCast News) - Bank of Georgia said the initial public offering of shares in its Georgia Healthcare Group (GHG) unit would be priced at 170p each, valuing the company at £218m ($328.7m). The IPO is 38.7m shares to raise £66m ($100m) which will be used to renovate and develop the recently acquire
Read moreGeorgia Healthcare Group announces indicative price range for its IPO
26th Oct 2015 08:06
(ShareCast News) - Bank of Georgia's healthcare subsidiary announced the indicative price range for its upcoming flotation on the LSE. Bank of Georgia Healthcare Group set a price range for its stockmarket debut of between 215p and 315p for an offering size of between $100m and $150m, resulting in a
Read moreBank of Georgia strikes deal with Saxo Bank
15th Oct 2015 09:30
(ShareCast News) - Bank of Georgia Holdings has signed an agreement with Saxo Bank to enable clients to access global capital markets and invest on a multi asset basis. The agreement, announced on Thursday by the FTSE 250 company, is through its wholly owned investment management subsidiary JSC Galt
Read moreFTSE 250 movers: Carillion surges as investors cheer contract wins
12th Oct 2015 15:11
(ShareCast News) - London's mid-cap index was down 0.6% to 16,990.42 at 1545 BST, in line with the broader market as investors struggled for direction amid an absence of market-moving news. Shares in Carillion surged after the construction and support services group expressed confidence over its ful
Read moreBank of Georgia's healthcare subsidiary plans to float on LSE
12th Oct 2015 07:28
(ShareCast News) - Bank of Georgia's healthcare subsidiary Georgia Healthcare Group intends to list on the London Stock Exchange. Bank of Georgia said the planned initial public offering is an important transaction, as it represents the first realisation of its investment in non-banking businesses,
Read moreBank of Georgia reshuffles executive board at JSC
25th Sep 2015 08:04
(ShareCast News) - Bank of Georgia Holdings (BGH) has appointed Irakli Gilauri as the chief executive and chairman of JSC BGEO Group Gilauri will join the business, which was established as a result of the restructuring to act as the Georgian holding company for the FTSE 250 group, from JSC Bank of
Read moreBank of Georgia profits up after acquisition
20th Aug 2015 08:26
(ShareCast News) - Bank of Georgia posted a lift in second quarter profits to GEL72mn (£19.81m), 15.5% higher than the same quarter last year and up 23.5% year on year. The UK subsidiary of JSC Bank of Georgia posted revenue of GEL202.7m for the second quarter, from GEL195.7m in the first quarter. T
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