News
- 15.09.11
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Georgian parliament allows IPOs for SOEs
The Georgian parliament on September 13 passed a legislative amendment allowing state-owned enterprises (SOEs) to float minority stakes on international stock markets, as long as the state would maintain a controlling stake. The enterprises being considered for IPOs include Georgian Railway, Georgian State Electrical System and the Georgian Oil and Gas Corporation... - 05.09.11
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Bank of Georgia Group seeks premium listing on LSE
Bank of Georgia (BGEO LI) announced today it is seeking a premium listing on the LSE with a view of broadening its investor base. A new public limited liability company (the “Newco”) incorporated in England will become the holding company for the Bank of Georgia group of companies and investors will be offered to exchange their Bank shares (held directly or in the form of GDRs) for shares of the Newco... - 05.09.11
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Tymoshenko trial may block EU-Ukraine FTA deal
Following talks with EU foreign ministers on Saturday Polish Foreign Minister Radoslaw Sikorski stated that negative developments in the Tymoshenko trial could derail the EU-Ukraine FTA and Association Agreement planned for December 2011, adding that even if the treaties are signed national parliaments may postpone ratification... - 29.08.11
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Abkhaz elections leave breakaway region’s status unchanged
Acting President Alexander Ankvab on Friday was voted in as Abkhazia’s third president with 55% of the vote in an early election caused by his predecessor’s death due to surgery complications in May. Russia, one of 4 countries to recognize the breakaway republic, stated the elections were “an important stage on the path of development of statehood”... - 18.08.11
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NBG cuts refinancing rate 25bps to 7.5%
The National Bank of Georgia (NBG) reduced its refinancing rate 25bps to 7.5%. The bank said the decision was motivated by inflation slowing faster than expected. This is the third rate reduction this year, following cuts in February and July (see news from July 22)...
