February 12, 2018 / 7:31 AM / in 8 days

BGEO's investment arm to hike stake in banking unit ahead of demerger

Feb 12 (Reuters) - Holding company BGEO said on Monday its investment arm, Georgia Capital, would increase its stake in the Bank of Georgia to 19.9 percent, up from the previously announced 9.9 percent, ahead of a planned demerger of the two units.

BGEO said the move would ensure that both, Bank of Georgia and Georgia Capital, would have enough liquidity to be “attractive to a broad investor base” and be large enough for inclusion in London’s FTSE 250 index after the demerger.

The company also said the board had now approved the implementation of the demerger, which was first announced in July 2017. (Reporting by Esha Vaish and Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair)

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