TBILISI, April 16 Georgia is planning to
sell up to 25 percent of shares in the state railway monopoly
through an Initial Public Offering (IPO) on London Stock
Exchange (LSE) in May, as the fast-growing ex-soviet republic
seeks foreign investment.
The IPO would take place in the form of Global Depositary
Receipts (GDR) to be listed on the LSE, the Georgian
ministry of economy and sustainable development said in a
Citigroup and Goldman Sachs International have been
appointed as joint global coordinators and joint bookrunners.
"Our IPO will now mark another stage in Georgian Railway's
evolution, bringing a greater profile and visibility to the
value we are creating to support our long term expansion plans
in the region," Irakly Ezugbaia, the Georgian Railway CEO, said
in a statement.