A Georgia-based medical insurance and hospital provider is seeking a London stock market listing that would value the company at about £260m — as more overseas medical companies choose to raise capital in Britain.
GHG is the single largest scale healthcare services and medical insurance provider operating in the fast-growing, predominantly privately-owned, Georgian healthcare market.
The management of GHG is targeting at least doubling of 2015 revenues by 2018. The firm plans to expand through the further development of existing and recently acquired hospitals, focusing predominantly on the higher revenue referral hospital segments in Tbilisi.
Nikoloz Gamkrelidze, chief executive of Georgia Healthcare, said the initial public offering would enable the group to renovate Soviet-era hospitals, roll out general practice clinics and reduce debt.
The move is the latest in a growing trend for overseas healthcare companies to use the London Stock Exchange as a route to finance.
GHG also intends to launch a network of new ambulatory clinics across Tbilisi and in other major cities in Georgia.
The shares are expected to be admitted to listing on the premium listing segment of the Official List and to trading on the London Stock Exchange plc.
BGEO.L climbed 5.1 percent in afternoon trade to1,992.00 pence.