Page 36 - bne IntelliNews George country report Sept 2017

GEL163,509.48 as of July 2017, a whooping increase from GEL38,932.77 a year ago. The highest turnover value of GEL4,163,201.12 was seen in May.
8.3.1 ECM news
DP Eurasia, master franchisee of Domino’s Pizza in Turkey, Russia, Azerbaijan and Georgia, announced on June 15 that the price range for its planned initial public offering (IPO) on the London Stock Exchange was at 200 pence to 230 pence per share. T hat implied “a market capitalisation of between £291mn (€334mn) and £331mn (€379mn)”. “The mid-point of the price range equates to an expected offer size of £203mn and an expected free float of more than 65%, including the exercise of the over-allotment option,” DP Eurasia said in a statement. The listing is expected to take place on June 28. Morgan Stanley is acting as global co-ordinator and joint bookrunner and Citigroup Global Markets Limited is acting as joint bookrunner. The offer will comprise the sale of part of the shares held by Fides Food Systems Coöperatief U.A., an entity owned by Turkish Private Equity Fund II L.P., and Vision Lovemark Coöperatief U.A., an entity owned by the company's CEO Aslan Saranga, plus an issue of new shares to raise gross proceeds of £21mn. The proceeds will be used for general corporate purposes and working capital needs, in particular relating to the planned roll out of corporate stores in Russia, DP Eurasia said. DP Eurasia is the fifth largest master franchisee of Domino's Pizza Inc.
The European Bank for Reconstruction and Development (EBRD) sold 30% of its shares in Georgia's largest lender, TBC Bank, on the London Stock Exchange on June 5, the multilateral lender said in a press statement. The EBRD, which purchased a 12.4% stake in the Georgian bank in 2009, said that its move was prompted by the lender's good performance on the stock exchange since it listed in 2014. The news comes after an eventful year for the bank which saw it acquire a premium listing on the London Stock Exchange (LSE) last August, buy the fourth largest bank in Georgia - Bank Republic - and overtake the previous incumbent as the country's largest
36 GEORGIA Country Report September 2017 www.intellinews.com