Bank of Georgia subsidiary acquires 300-bed hospital
23rd May 2014 07:56
Bank of Georgia Holdings on Friday said its wholly-owned healthcare subsidiary, Aldagi, has acquired Sunstone Medical, which owns a hospital in East Tbilisi with an estimated total development capacity of 300 beds. The property, which is a long-established and well-known hospital in Tbilisi that h
Read moreBank of Georgia delivers profit rise in first quarter
9th May 2014 13:45
Bank of Georgia reported a rise in both revenue and profit for the first quarter, although the net interest margin (NIM) dipped slightly from a year earlier. Turnover for the three month period climbed 11.8% year-on-year from 14.5m Georgian Lari (GEL) to 137.5m, driven by positive operating leverag
Read moreFriday broker round-up UPDATE
9th May 2014 08:44
Advanced Medical Solutions: Numis ups target price from 105p to 121p and retains its hold recommendation. Arrow Global: Numis upgrades from add to buy with a target price of 285p. Bank of Georgia: Numis downgrades from buy to hold with a target price of 2708p. Barclays: Citi lowers target price f
Read moreBank of Georgia subsidiary completes buy-out of healthcare business
25th Apr 2014 07:46
Bank of Georgia Holdings on Friday said its insurance and healthcare subsidiary, Aldagi, has completed the buy-out of a 49 per cent minority shareholder of its healthcare unit, My Family Clinic (MFC). Aldagi, which has held a 51% controlling interest in MFC since December 2011, now consists of MFC
Read moreBank of Georgia appoints Deputy Chief Officer
2nd Apr 2014 15:39
Bank of Georgia Holdings has appointed a Deputy Chief Officer who will be in charge of special projects. Sascha Ternes was formerly a member of the management board of ProCredit Bank Georgia from 2007, where he was both Chief Financial Officer and Chief Executive Officer. Before that he held exe
Read moreBroker tips: Vodafone, Shell, Reed Elsevier...
17th Mar 2014 13:00
Vodafone's 7.2bn-euro offer for Spanish telecoms group Ono is a "vital strategic move", according to Jefferies, which said that a stabilisation of the UK group's business in Spain is now possible. "The clear positive from this morning [...] is that VOD is addressing a key strategic weakness proact
Read morePanmure Gordon highlights buying opportunity at Bank of Georgia
17th Mar 2014 10:09
The recent sell-off in Bank of Georgia shares due to the Ukraine crisis is a good reason to buy the stock, according to Panmure Gordon. "The shares have fallen 12% from the high of 2,500p on concerns over the Ukraine situation, combined with an attempted placing last week which was pulled," said An
Read moreBank of Georgia steps up healthcare investment prior to spin off
6th Mar 2014 13:47
Bank of Georgia Holdings's healthcare and insurance subsidiary has increased its stake in Georgia's second largest hospital group. JSC Insurance Company Aldagi's healthcare arm upped its stake Avante Management, which owns four hospitals with a total of 578 beds located in Tbilisi and Batumi, from
Read moreFTSE 250 movers: Perform rises on turnaround hopes
4th Mar 2014 15:04
Sports media group Perform surged on turnaround hopes following a seven per cent fall in earnings per share in 2013. The company said the board was taking the opportunity to address the large cost base and had 'already put in place a series of plans and initiatives'. Pace, which develops technolog
Read moreFTSE 250 movers: ITE dives on double downgrade
3rd Mar 2014 15:11
ITE Group was the day's biggest faller on the FTSE 250 after both Canaccord Genuity and Westhouse Securities cut their ratings on the stock, to 'hold' from 'buy' and to 'neutral' from 'add', respectively. Engineering specialist Keller was also lower after cautioning that most of its European marke
Read moreLondon midday: Stocks hit two-week low on Ukraine concerns
3rd Mar 2014 11:25
- FTSE 100 at lowest intraday level since February 17th - Ukraine conflict escalates - Stocks with exposure to Ukraine, Russia hit - China manufacturing weakens techMARK 2,842.73 -2.13% FTSE 100 6,683.18 -1.86% FTSE 250 16,345.25 -2.28% UK stocks sank to their lowest levels in two weeks on Monday
Read moreBank of Georgia buys 80 per cent majority of Georgian hospital group
20th Feb 2014 14:51
Bank of Georgia Holdings said its healthcare and insurance subsidiary Aldagi has bought an 80 per cent stake in Avante Hospital Management Group for an undisclosed sum, and is in talks to buy the remaining 20 per cent. Avante owns four hospitals with a total of 578 beds in the Georgian cities of Tb
Read moreWednesday broker round-up UPDATE
19th Feb 2014 08:33
Anite: Panmure Gordon lowers target price from 146p to 139p, while leaving its buy recommendation unaltered. Bank of Georgia: Canaccord Genuity increases target price from 2100p to 2400p, while leaving its hold recommendation unchanged. BHP Billiton: Investec raises target price from 1926p to 1985
Read moreBank of Georgia shares rise strongly on record profits
18th Feb 2014 08:24
Shares in Bank of Georgia Holdings rose strongly as the company reported a 16.6 per cent rise in profits to a record 209.3m Georgian lari (GEL) for 2013. The share price was up 81p, or 3.57%, to 2349p at 09:00, as the bank said profits had been supported by declining funding costs and positive ope
Read moreFTSE 250 movers: F&C Asset Management up on read-across
20th Jan 2014 13:45
F&C Asset Management was to be found in the upper rungs of the leader-board today after Credit Suisse upped the majority of its price targets for Europe's Diversified Financials. The sector has the highest 'gearing' to a rise in 10-year US Treasury yields, the Swiss broker's analysts explained.
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