Georgian Global Utility (GGU), owner of water and wastewater service providers in Tbilisi, Rustavi and Mtskheta, is actively preparing for the London Stock Exchange.
The company declares that negotiations are held with investors, different funds, international finance institutions, as well as potential clients. The first IPO of the shares at the international market is scheduled in 2 years by 2019. The company notes, that GWP has a rather high rating. They also highlight that GWP is the first non-financial private company in Georgia, which Fitch affirmed “BB-“rating; outlook stable.
As Archil Gachechiladze, director of GGU declared, they plan to attract 100-150 million USD by IPO. However, the company will direct part of the raised funds for mastering the renewable energy.
Then group has concluded several energy projects in order to gain more confidence of the investors, including successfully launch of Saguramo HPP and start of construction of the wind power plant is also planned. One of the companies of BGEO Group started research works at 10 locations in order to study potential sources of the energy.