Bank of Georgia Group completes demerger

Writer, Stock Market Wire
Tuesday, May 29, 2018 - 08:37

Bank of Georgia Group said the demerger of its investment business to Georgia Capital was completed on Tuesday morning.

As part of the demerger, Bank of Georgia Group had issued and allotted a further 9,784,716 Bank of Georgia Group Shares - equivalent to 19.9% of Bank of Georgia Group's issued ordinary share capital - to Georgia Capital in exchange for Georgia Capital's stake in the banking business.

Shares of Georgia Capital were admitted for trading on the London Stock Exchange's main market for listed securities prior to 8.00 a.m. on 29 May 2018, the company said.

At 8:37am: (LON:BGEO) BGEO Group share price was -1119.7p at 1993.3p

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