Georgia Capital Share Discussion Threads

[flyfisher] 31/12/2021 10:54

It is an approximate 12.2% premium to last book value.

The current nav after the sale, allowing for a gain post period in bgeo and adjusted for currency changes is 1460p according to my calcs.

So it still trades at 50% plus discount to book.

[chrisdgb] 31/12/2021 10:50

Well that was out of the blue, really nice news into 2022...........

[stockstockham] 31/12/2021 10:45

They say a substantial premium to carry value, but do we know how substantial? Agree it makes CGEO look very undervalued.

[flyfisher] 31/12/2021 10:44

Todays news of a sale of a major investment at a premium goes a long way to validating asset values.

An excellent deal.

[davebowler] 27/12/2021 10:36

Indirect mention here-

[nchanning] 24/12/2021 10:35

A tempting discount here but I wouldn't have much faith in the NAV . Sure Bank of Georgia is a wonderful business and almost certainly materially undervalued but it also gives a good guide to how overvalued the other businesses are in the NAV at 10+ x EBITDA ( 15+ PE ) in somewhat capital intensive businesses in a frontier market with geopolitical risks . If a buyer can Bank of Georgia , a 25% ROE bank , at book value and at a low single digit PE why would anyone pay 10 x EBITDA for a steady hospitals business that needs regular capex .

[epistrophy] 16/11/2021 11:55

It helps that management fees are based on market cap, rather than net assets. A majority of it is share based comp too.

[flyfisher] 16/11/2021 08:10

Agreed. Unfortunately the management fees look equally bonkers.

The majority of the remaining land and property holding has been sold post period end, at a small premium. Which gives them the cash to extend the buy in, should they so wish.

Hopefully, alan gray increasing their holding has cleared the stock overhang.

[chrisdgb] 16/11/2021 07:56

Q3 results look good today, approximately 55% discount looks bonkers.........

[chrisdgb] 13/10/2021 09:02

All seems well here and nice to see some positive momentum......

[epistrophy] 01/10/2021 14:07

Some decent volume into the quarter end. I wonder if our seller is now out.

[epistrophy] 25/9/2021 11:36

No offence but that article is utter rubbish. Zero mentions of what the company actually does.

[flyfisher] 13/9/2021 17:18

Updated edison note.

[epistrophy] 13/9/2021 16:29

Think the Eaton Vance position is held in a couple of their mutual funds. Not sure why they are selling but I guess it might explain the underperformance versus BGEO.

[flyfisher] 13/9/2021 08:21

Eaton Vance selling as numis are executing the buy back, seems to be holding the share price down.

What is their perspective on value?

[joe say] 13/9/2021 08:11

This share has been totally overlooked - doesn't really matter as imo value will out

[3ootuk] 13/9/2021 08:07

Bank of Georgia revising % dividend payout upwards

[babscabs] 24/8/2021 19:45

Massively under asset value , and with Bank of Georgia shares going through a big surge this seems too be getting overlooked Bank of Georgia up 7.5% today and subject to a strong Peel Hunt buy recommendation . The bank of Georgia stake will add considerably to NAV if it continues to rerate and sooner or later this will tag along for the journey .

[chrisdgb] 11/8/2021 16:12

Feeling very reassured by the update and the scale of the discount.....!!!

[flyfisher] 10/8/2021 08:00

Good results today, post reporting date sale of property at a premium, plus an increase in the share price of BGEO and Lari strength will have pushed the SOTP to just over 1300p.

The buy in would seem to underpin the price.

[pj84] 26/7/2021 19:07

Nice to see Georgia Capital's discount to target price as number 7 of the above list of the top 20 investments.

[pl dil] 05/7/2021 12:21

And on it trundles.

[pl dil] 21/6/2021 17:28

Chart suggests it’s on its way to a tenner.

[chrisdgb] 21/6/2021 08:56

Nice looking trading update...........