Georgia Capital Share Discussion Threads

[privileged] 17/5/2023 17:26

GEO down on results , CGEO had a great day. Hard to fathom! But still c60% nav discount

[pj84] 16/5/2023 16:19

hTTps://www.edisongroup.com/research/staying-on-course-2/32311/

[podgyted] 14/5/2023 12:33

Currently the discount is over 63% due to the rise in BGEO.

[pj84] 10/5/2023 22:18

Based on todays 1st quarter results the discount to NAV is now 61.8%.

[bisiboy] 12/4/2023 19:04

or not the lower the price the better the value is to shareholders

[pj84] 20/2/2023 09:45

Final results show this is now trading at a 60% discount to NAV of £20/share.

[kenwrong] 06/12/2022 17:58

Ken Baksh has done well with this. All his stock picks are up - see his table 13 minetes and 30 seconds in

hTTps://youtu.be/8JBQEMhhhzs

[flyfisher] 25/11/2022 15:32

Edison note.

Https://www.edisongroup.com/publication/benefiting-from-strong-macro-tailwinds-in-georgia/31703/

[privileged] 10/11/2022 09:47

Bgeo having a good day but cgeo very marginally down. Should catch up!

[privileged] 09/11/2022 13:34

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.

[privileged] 09/11/2022 12:04

Has to be really. What discount do we think appropriate here - 50%?? even that feels crazy cheap, before i first looked yesterday i'd have considered buying in the 30s. How about 40%?

[kfr20] 09/11/2022 11:06

A new 52 week high surely can't be far away

[kenwrong] 09/11/2022 10:53

This investment analyst Ken Baksh says it is trading at a huge discount, worth buying by the looks.

hTTps://youtu.be/O0QLt5bpBYU

[privileged] 09/11/2022 07:34

NAV grew to £18.55 ...That's quite some gap to the share price!

[privileged] 07/11/2022 13:52

same now, just spotted this. looks like an insane discount does it not?

[farrugia] 04/11/2022 11:42

why is there a huge disparity between this and Bank of Georgia? I couldn't resist - i bought some here.

[flyfisher] 02/11/2022 10:05

Q3 results out next week.
They should show a nav increase of around 23% to 1825p, backed by a big increase in the valuation of it's holding in bgeo and lari strength.

Current discount to nav is around 65%, which seems excessive.

[pj84] 25/8/2022 21:23

From the Edison update above indicating current share price on a discount to NAV of over 50%

"GCAP provides diversified exposure to Georgia, mostly through resilient, market-leading businesses in sectors like healthcare, pharmacy, financials, renewable energy and education. This portfolio (of which 90% is valued externally) is available at a wide discount to carrying value and we note that the combined value of its Bank of Georgia stake and the remaining stake in the water utility business (valued based on the put option) alone equal c 81% of GCAP’s market cap.

The Georgian economy exhibits extremely strong momentum (despite weaker global macro conditions), with real GDP growth of 10.5% y-o-y in H122 (after 10.4% in 2021). This is fuelled by, among other things, solid external demand (merchandise exports were up 35% y-o-y in H122), a surge in remittances by 65% y-o-y in H122 and a rebound in tourism arrivals to 80.6% of 2019 level in July 2022, including the migration effect, according to Galt & Taggart research. Georgia’s solid economic prospects are illustrated by the World Bank’s GDP forecasts (released in June 2022) for 5.0%+ growth in 2022–24. Local forecasters expect even higher real GDP growth in 2022, with the National Bank of Georgia recently raising its forecast from 4% to 9%, while Galt & Taggart and TBC Capital forecast 9.2% and 10.6%, respectively. This is supported by, among other factors, the inflow of migrants from Russia, Ukraine and Belarus following the outbreak of the war. TBC Capital estimates that 75,000 have arrived so far and that c 30,000 will stay permanently."

[flyfisher] 25/8/2022 11:45

Edison note.

Https://www.edisongroup.com/publication/nav-per-share-stable-in-local-currency-in-q222/31254/

[flyfisher] 07/8/2022 08:01

The Georgian lari has appreciated by 11% against sterling since Q1.

This, combined with a rise in the BGEO holding and the buy in, should show through in a strong nav in this weeks Q2 results.

[chrisdgb] 24/5/2022 13:41

Interesting, good spot...........

[flyfisher] 18/5/2022 09:17

Looking over the recent capital markets day presentation which is on their website, they have split the old GHG business into hospitals, pharmacies and clinics, presumably to increase marketability. They have also reduced the size at which they will seek to divest and will not commit funds to capital intensive situations.

The presentation also gives valuation multiples and the sector competitors against which the multiples are derived.

It would seem that hospitals, pharmacies and selected 'others' are for sale, but i imagine little interest will arise until the ukraine situation settles.