LONDON (ShareCast) - (ShareCast News) - Bank of Georgia's healthcare subsidiary announced the indicative price range for its upcoming flotation on the LSE.
Bank of Georgia Healthcare Group set a price range for its stockmarket debut of between 215p and 315p for an offering size of between $100m and $150m, resulting in a market capitalisation of between $397m and $535m (£257m to £347m).

The sale was expected to raise $100m (£64.9m) in fresh funds for the company which would be used to renovate and develop the Deka and Sunstone referral hospitals in Tbilisi, by adding about 500 beds to their existing capacity.

Bank of Georgia Holdings would participate in the sale, hiving off between 28m and 45m shares.

The company's free float was expected to be between 25% and 38%, excluding any exercise of the overallotment option.

Over 20 members of the board and connected persons had expressed their interest in participating in the float for a total value of $4m.

Final pricing was expected to be announced on 6 November.

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