Bank of Georgia's healthcare unit plans London debut
(Reuters) - Georgia Healthcare Group Plc, a unit of Bank of Georgia Holdings Plc , said it intended to raise $100 million (65 million pounds) via an initial public offering in London, as investor appetite for health-related offerings grows.
Georgia Healthcare, the largest healthcare services provider in Georgia, said it would use the net proceeds to renovate and develop recently bought healthcare facilities, fund expansion plans and reduce debt.
Citigroup Global Markets Ltd and Jefferies International Ltd will be joint financial advisers and joint global coordinators. Numis Securities, Renaissance Capital, and Galt & Taggart are acting as co-lead managers, the company said.
Georgia Healthcare, which also provides medical insurance, reported revenue of GEL 108.8 million in the first half of 2015.
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Anupama Dwivedi)
