23rd Aug 2018 09:15
LONDON (Alliance News) - Investment company Georgia Capital PLC on Thursday said it no longer expects to own less than a 50% stake in Georgia Healthcare Group PLC by the end of 2018.
Georgia Capital holds 57% interest in the healthcare services & insurance provider.
In light of the prevailing market conditions, Georgia Capital said it believes that the current share price significantly undervalues the performance and prospects of Georgia Healthcare and has, therefore, concluded that a further reduction of its holding in Georgia Healthcare, at this time, will not be in the best interests of its shareholders.
Shares in Georgia Healthcare were untraded on Thursday, last quoted at 255.00 pence each, while Georgia Capital share were up 0.5% at 1,025.60p.
"Over the last few months Georgia Healthcare's share price has, in our view, not reflected the company's strong performance and excellent growth prospects," said Georgia Capital Chairman & Chief Executive Irakli Gilauri said.
"We manage our capital needs such that we do not depend on premature liquidation of our listed investments," added Gilauri.
Related Shares:
GHG.LGeorgia Capital