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Company GWP to prepare for IPO

Georgian water and power” is going to enter IPO. The general director of GWP, Giorgi Tskhadadze noted that the current conditions in company help to encourage selling shares on a public scale for the first time and in 3-4 years, IPO will be ready for it.

Georgian Water and Power invited one of the biggest American company AECOM to Tbilisi in 2015, which consulted with company on development strategy plan, which was one of the steps in terms of promoting Georgian company on international stock exchange.

It has to be noted that the company got a confirmation from rating agency Fitch for the second time and they hope in the company that confirmation of rating will lead GWP to success as more investors will be interested in it.

The financial director of the company, Giorgi Vakhtangishvili claims that confirmation of rating means that the company structure and management system is reliable and the company is developing in a proper way.

Georgian water and power allocated 30 million years obligation of 5 years on Georgian market for non-financial organization in November 2016. GWP obligation brokers are GALT&TAGGART and Pasha Bank. He noted that collaboration with financial institutions is very important for the development of the company. The company will use resources received by obligations emission to implement capital investments.

GWP securities emission has been implemented for the 3rd time. The first obligations were issued in August 2015 with the amount of 2.6 million GEL. On 10th of December, in 2015 Georgian water and power issued 6 million GEL obligations which will be refinanced with the obligations issued in November. 

GWP 2017 investment portfolio will be doubled and is planning to invest 81.3 million GEL.

Georgian Water and Power is the first and only non-financial, private company which got the highest rating “BB” in Georgia in 2015 by Fitch Ratings.