As reported previously, GHG is on its way to become the first Georgian healthcare company seeking a London stock market listing.
“The largest health services provider in the former Soviet Republic, has set an initial price range for its London listing that would value the company at £257m-£347m,” — Financial Times reports.
Georgia Healthcare Group is a subsidiary of one of the country’s largest banks Bank of Georgia, which is also one of the few companies listed at the Financial Times Stock Exchange (FTSE).
GHG’s £257m-£347m gives the company between 215p and 315p per share on the London stock market.
Financial Times compares Georgia Healthcare Group’s listing to other companies that have recently joined the London listing — Abu Dhabi’s private healthcare providers Al Noor Hospitals and NMC Health.
Being on the comparatively similar standing as these companies — Al Noor and NMC — which set an offer price of 575p per share in 2013, GHG’s 215-315p per share presents as a moderate decision.
“We believe the dynamics of the Georgian healthcare market provide long-term growth opportunities and that GHG, a market leader operating a business model with cost and synergy advantages, is well positioned to take advantage of the significant market growth prospects,” chief executive of GHG Nikoloz Gamkrelidze told Financial Times.
Georgia Healthcare reported revenue of almost £30m in the first half of 2015. Mr Gamkrelidze said the IPO would help the company reach its goal of “more than doubling” its 2015 revenues by 2018.
GHG’s more than 20 board members, including Irakli Gilauri, the chairman, and Mr Gamkrelidze, have indicated their interest in participating in the Initial Public Offering (IPO) with a total value of up to roughly £2.6m
Georgia Healthcare Group’s business advancement goes hand in hand with Georgian government’s pledge to establish universal healthcare system in the country.