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
  16.50 4.78% 361.50 57,821 16:35:06
Bid Price Offer Price High Price Low Price Open Price
359.00 362.00 368.50 345.00 345.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 390.00 161.17 173
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:06 UT 528 361.50 GBX

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Date Time Title Posts
25/8/202017:11Georgia Capital PLC13

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Georgia Capital Daily Update: Georgia Capital Plc is listed in the General Financial sector of the London Stock Exchange with ticker CGEO. The last closing price for Georgia Capital was 345p.
Georgia Capital Plc has a 4 week average price of 343.50p and a 12 week average price of 343.50p.
The 1 year high share price is 1,042p while the 1 year low share price is currently 343.50p.
There are currently 47,903,785 shares in issue and the average daily traded volume is 296,425 shares. The market capitalisation of Georgia Capital Plc is £173,172,182.78.
loganair: MoneyWeek - Adventurous investors should head for the frontier in Georgia by David C Stevenson 13/08/2019: Georgia Capital, a London-listed investment fund, is trading on a big discount and looks a good bet for the brave. One of the great virtues of the London stockmarket is that there’s a healthy number of funds to appeal to investors looking for the next frontier. One of the lower-profile examples is Georgia, a destination that probably isn’t on the radar for many people, but represents an interesting prospect for the brave investor. Solid fundamentals Georgia is a tiny state nestled on the western edge of the Caucasus mountain range. It has a population of just 3.7 million, yet boasts a number of advantages. Its government is trying to stay friendly with the West as well as with Russia – although every once in a while its overbearing northern neighbour throws a tantrum and threatens exports. National markets are steadily opening up to international competition (Turkey is one key trading partner) and Georgia is keen to position itself as a transit point in trade between Central Asia and Europe. Its lack of commodity wealth is also probably something of a positive, making local businesses work harder for their profits. The economy has been growing at a fairly steady 4% to 6% clip since 2017 with inflation on target to stay below 3%, and a rapidly improving trade deficit. National finances look stable with interest rates at 6.5% and central-bank foreign-exchange reserves steadily growing. A promising fund Bank of Georgia, a local bank, has been listed on the main segment of the London Stock Exchange since the spring of 2012. Back in 2018 it decided to de-merge into two separate businesses: Bank of Georgia (LSE: BGEO), the banking business; and Georgia Capital (LSE: CGEO), the investment fund business. At the time I thought that this investment arm was interesting, but timing wasn’t ideal and the demerger took place at net asset value (NAV), which I thought might be a bit rich. Rows then developed with Russia, which helped knock sentiment and since the demerger the shares have drifted ever lower. At the current share price of around £10 a share, the discount to NAV looks to be about 30%, which strikes me as better. In simple terms, Georgia Capital is a hybrid fund, containing of two main components. The biggest chunk (60%) consists of substantial holdings in Bank of Georgia (19.9% stake) as well as a 57% stake in Georgia Healthcare (LSE: GHG). These are both performing well. Georgia Healthcare has recently announced a dividend policy, and plans to pay out 20%-30% of annual profit. Bank of Georgia’s shares are still lowly priced, trading at 1.4 times book value, on a price-to-earnings ratio of around five and a dividend yield of over 10%. Fast-growing private equity The other portion of the portfolio is a fast-expanding range of private-equity holdings. Recent investments include an 80% equity interest in Green School, the leading affordable private school, and an 80% interest in Amboli, the second-largest auto-service firm. In March, Georgia Capital’s drinks operation acquired the brand name and commercial assets of Kazbegi, the country’s oldest beer brand, for $3.65m (£3m). Meanwhile, the renewable energy business has commissioned the 30MW first phase of the Mestiachala hydro power plant, with a further 20MW second phase under way. This frenetic pace of activity shows up in the latest reported quarterly numbers which showed a 7.2% return in local currency terms for the first quarter of this year (3.5% in sterling terms) – comprised of a 12.1% total return in local currency from the listed portfolio companies and a 2.1% total return from the private portfolio companies. Overall, I think Georgia Capital now looks like a good bet as long as Georgia can keep on good terms with Russia.
epistrophy: Very little interest here. I guess we need to wait for the initial results. If my sums are right, the BGEO and GHG stakes are alone worth the current share price... so you get the other four businesses for free!
Georgia Capital share price data is direct from the London Stock Exchange
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