BGEO appoints new utilities unit chief, bank restructure
21st Nov 2016 07:21
(ShareCast News) - BGEO Group said it had appointed a new chief executive to its utilities unit as it prepares for an IPO, while also unveiling a restructuring at Bank of Georgia. The FTSE 250-listed outfit said Archil Gachechiladze, currently a deputy chief executive of the bank, had been appointed
Read moreDirector dealings: Burberry and BGEO directors take some profits
25th Aug 2016 16:17
(ShareCast News) - A pair of directors at Burberry and BGEO Group reaped hefty profits from selling shares on Thursday. Burberry chief executive Christopher Bailey, who in July agreed to step back to focus solely on his previous role of chief creative officer, stashed £253,500 in his manbag as he so
Read moreThursday broker round-up
18th Aug 2016 09:43
(ShareCast News) - Admiral Group: RBC reiterates underperform with a target price of 1600p. Laird: Berenberg maintains sell with a 230p target. BGEO Group: UBS reiterates neutral with a 2960p target. ICAP: Exane BNP Paribas upgrades to outperform with a 510p target. Poundland: Credit Suisse keeps
Read moreBGEO profits surge ahead of generous Georgian corporate tax cuts
16th Aug 2016 07:40
(ShareCast News) - Growth across retail banking, corporate banking and its investment arm saw BGEO drive profits and allowed it to further benefit from the Georgian government's generous new tax policy. Total revenue during the first six months of the year of 439.8m Georgian lari (GEL) (£146m) was u
Read moreBGEO sign £19m loan agreement
5th Aug 2016 07:41
(ShareCast News) - BGEO Group, the holding company of JSC Bank of Georgia, announced on Friday that the bank and Black Sea Trade and Development Bank have signed a GEL 60m (£19.4m) loan agreement, with a 5-year maturity. The FTSE 250 firm said this long-term local currency loan facility will be used
Read moreBGEO completes $350m notes issue
27th Jul 2016 10:29
(ShareCast News) - BGEO Group, the holding company of JSC BGEO Group, announced on Wednesday that it has completed the issuance of its $350m 6.00% notes due 2023. The FTSE 250 firm said the Regulation S / Rule 144A senior unsecured notes were issued and sold at an issue price of 99.297% of their pri
Read moreBGEO 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
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