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CGEO Georgia Capital Plc

1,314.00
10.00 (0.77%)
24 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Georgia Capital Plc LSE:CGEO London Ordinary Share GB00BF4HYV08 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  10.00 0.77% 1,314.00 46,787 16:35:18
Bid Price Offer Price High Price Low Price Open Price
1,304.00 1,314.00 1,308.00 1,292.00 1,306.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Finance Services GEL GEL 608.62M GEL 14.2620 0.91 556.47M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:51:16 O 2 1,294.162 GBX

Georgia Capital (CGEO) Latest News (1)

Georgia Capital (CGEO) Discussions and Chat

Georgia Capital Forums and Chat

Date Time Title Posts
01/3/202415:57Georgia Capital PLC98

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Georgia Capital (CGEO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-04-24 16:51:171,294.16225.88O
2024-04-24 16:20:361,297.994295,568.38O
2024-04-24 16:13:441,314.001,74022,863.60O
2024-04-24 16:13:101,293.99225.88O
2024-04-24 15:55:571,314.0752683.31O

Georgia Capital (CGEO) Top Chat Posts

Top Posts
Posted at 24/4/2024 09:20 by Georgia Capital Daily Update
Georgia Capital Plc is listed in the Finance Services sector of the London Stock Exchange with ticker CGEO. The last closing price for Georgia Capital was 1,304p.
Georgia Capital currently has 42,673,998 shares in issue. The market capitalisation of Georgia Capital is £556,468,934.
Georgia Capital has a price to earnings ratio (PE ratio) of 0.91.
This morning CGEO shares opened at 1,306p
Posted at 22/2/2024 11:45 by pj84
Continued progress with the share price currently at a 50% discount to NAV at Dec 23 and that is likely to have increased further following Bank of Georgia's recent share price increase as a result of the proposed purchase of bank of Armenia for 0.65 of book value and 2.6 x P/E 2023.
Posted at 30/10/2023 11:22 by davebowler
Nick Greenwood-
Georgia
Georgia has made significant progress over the past decade, with its GDP per capita increasing by 55% from 2011 to 2021. Despite an improved economic outlook in recent years, investor appetite for Georgia has been muted, with sentiment impacted further by Russia’s invasion of Ukraine last year – which stoked memories of the conflict between Russia and Georgia in 2008.

As a result of the Russian invasion of Ukraine, many highly skilled Russians, particularly IT professionals, have moved across the border to Georgia. This has given the economy a further recent boost. Nevertheless, with non-existent demand for Eastern European strategies in recent years, the country remains firmly out of the investor spotlight. While there may be no near-term catalyst for Georgia, the significant valuation mispricing is simply too compelling to overlook.

We have a position in the London-listed Georgia Capital (CGEO), which was spun out of Bank of Georgia after the combined entity became too large to manage at 16% of GDP. The portfolio has investments in various areas such as wine, motor insurance, education, renewable energy, water supply and its listed stake in the Bank of Georgia. With a current discount of 60% – this represents a major mispricing opportunity, given our optimism in the country’s internal dynamics.
Posted at 29/8/2023 22:21 by pj84
Bank of Georgia boosts Georgian Capital as analysts eye opportunity

Georgia Capital, which invests mainly in private equity in the ex-USSR region, has seen a significant share price return thanks to its listed holdings, including Bank of Georgia.

Michelle McGagh

Georgian private equity may make up the majority of Georgia Capital (CGEO) but its listed holdings have helped the net asset value (NAV) to reach a record high and its share price to rise.

Half-year results from the £403m investment company, which cover the six months to 30 June, showed the portfolio grew to a record high in the second quarter of this year, with the NAV increasing 8.2% over the three-month period in Georgian lari terms. This helped the fund deliver a NAV increase of 11.8% in the first half of the year.

The NAV per share rose 8.2% in the quarter in GEL terms and 11.8% for the first half of the year.

The strong figures are in part thanks to UK-listed Bank of Georgia (BGEO), which is the largest holding in the fund at 26.3%.

Bank of Georgia saw its shares grow 6.4% in the second quarter of the year following strong earnings and share buybacks.

Numis investment company analyst Priyesh Parmar said the performance of Bank of Georgia is putting the fund ‘on the radar of a wider range of UK equity income investors and could help drive a re-rating’.

‘We believe that the Georgian economy remains well placed to deliver strong growth over the next few years, as it has consistently done over the last two and a half years,’ said Parmar.

The performance of the fund was also boosted by the vaguely-named ‘water utility’ that makes up 4.7% of the portfolio.
The investment company sold 80% of its stake in the utility business for $180m in 2021.

Irakli Gilauri, the chief executive of BGEO, said he has a ‘clear exit path through a put and call structure at a pre-agreed EBITDA multiple’ for the remaining 20% holding in the business.

The fund also tackled the upcoming maturity of the $300m of Eurobonds issued by JSC Georgia Capital, the holding parent of the fund.

Gilauri said he took a ‘proactive stance’ to refinancings and ‘identified an opportunity to effect a landmark transaction by issuing sustainability-linked bonds in the local capital markets in Georgia’, marking the largest-ever corporate bond issuance in the country of Georgia.

The five-year bonds, which pay an 8.5% coupon, attracted ‘an unprecedented level of interest in Georgia, with total demand reaching $200m’.

Gilauri said he was ‘particularly impressed’ by the number of retail investors, with the bond achieving the highest retail volume in the history of Georgia’s capital markets.

Numis analyst Parmar agreed that the bond refinancing was a ‘key milestone’ and this, along with the favourable returns, make it an attractive investment.

‘We have consistently been highlighting this as an opportunity,’ Parmar said.

‘Management continues to deliver on its strategic goals, strengthening the balance sheet helped by strong cashflows from the portfolio.’

However, he said, Georgia Capital’s discount remains ‘extreme’ at almost 60%.
Posted at 17/8/2023 11:40 by pj84
Bit of a delayed response to BoG results today with the share price up 15% but market now catching up.
Posted at 15/8/2023 19:13 by pj84
Half year NAV £22.12/share discount now 58.5%.

Happy to continue to hold at this level.
Posted at 10/7/2023 14:16 by paul243
Sell down stake in BGEO and do a tender offer for CGEO shares with the proceeds. See what happens to the NAV discount then! If the respective transactions happened at current prices, the discount would balloon even further
Posted at 17/5/2023 17:26 by privileged
GEO down on results , CGEO had a great day. Hard to fathom! But still c60% nav discount
Posted at 12/4/2023 19:04 by bisiboy
or not the lower the price the better the value is to shareholders
Posted at 09/11/2022 13:34 by privileged
50% discount to stated NAV = £9.28 of course and 40% = £11.13
would like to hold this until we hit double figure share price.
Posted at 09/11/2022 07:34 by privileged
NAV grew to £18.55 ...That's quite some gap to the share price!
Georgia Capital share price data is direct from the London Stock Exchange

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