Georgia Capital (LSE: CGEO)

Last close As at 02/03/2024

GBP12.26

−2.00 (−0.16%)

Market capitalisation

GBP525m

Georgia Capital focuses on scalable private equity opportunities in Georgia. These opportunities have the potential to reach an equity value of at least GEL300m over the next three to five years and the company can monetise investments through exits as investments mature.

Latest Insights

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Investment Companies | Update

Georgia Capital — FY23 NAV TR of 20% in sterling terms

Investment Companies | Update

Georgia Capital — Successful bond refinancing improves risk profile

Investment Companies | Update

Georgia Capital — Staying on course

Investment Companies | Review

Georgia Capital — Nearing deleveraging target

Equity Analyst

Milosz Papst

Milosz Papst

Director, Financials

Michal Mordel

Analyst, Investment trusts

Key Management

  • Giorgi Alpaidze

    CFO

  • Irakli Gilauri

    Chairman & CEO

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 9.5 22.6 50.1
Relative 9.7 19.4 55.2
52 week high/low 1250.0p/737.0p

Overview

Georgia Capital (GCAP) reported a Q423 NAV total return (TR) of 7.7% in Georgian lari (GEL) terms (3.4% in sterling terms), bringing the FY23 NAV TR to a strong 26.5% (20.4% in sterling terms). The considerable increase in the sterling share price of Bank of Georgia (BoG) was the main contributor, adding c 5.1% and 19.5% to GCAP’s opening NAV in Q423 and FY23, respectively. This was further assisted by positive revaluation of all large and investment-stage private holdings, except for the hospital business. In aggregate, GCAP’s private holdings added 1.9pp to its Q423 NAV TR. NAV-accretive buybacks of US$8.3m added a further 0.9pp.

Research

Review

Investment Companies

Georgia Capital — Nearing deleveraging target

Update

Investment Companies

Georgia Capital — Benefiting from strong macro tailwinds in Georgia

Update

Investment Companies

Georgia Capital — NAV per share stable in local currency in Q222

Review

Investment Companies

Georgia Capital — A portfolio of market leaders in Georgia

Review

Investment Companies

Georgia Capital — Value creation on the back of macro recovery

Review

Investment Companies

Georgia Capital — Solid positive revaluations in Q420

Initiation

Investment Companies

Georgia Capital — A private equity play on Georgia

Thematics

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