LONDON (ShareCast) - (ShareCast News) - Bank of Georgia's healthcare subsidiary Georgia Healthcare Group intends to list on the London Stock Exchange.
Bank of Georgia said the planned initial public offering is an important transaction, as it represents the first realisation of its investment in non-banking businesses, and demonstrates the potential to unlock the significant value described when the group announced its new corporate strategy in December 2014.

Shortly after the GHG IPO, Bank of Georgia will hold an investor day in London, where the group will update the market on its business strategy and capital management plans.

Georgia Healthcare is the single largest scale healthcare services and medical insurance provider operating in the predominantly privately-owned Georgian healthcare market.

Nikoloz Gamkrelidze, chief executive officer of Georgia Healthcare, said: "The IPO, premium listing and admission to trading of GHG's shares on the London Stock Exchange will enable us to finance our immediate growth plans and if necessary provide access to capital markets for our future growth.

"We are targeting to increase market share within the estimated GEL2.1bn Georgian healthcare services market in 2015 by accelerating revenue enhancement at our hospitals and replicating our hospital consolidation experience in the outpatient segment by expanding organically into ambulatory clinics where GHG's current market share is close to zero."

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