Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Odd do we really want the share price to go up....... before they have used up all the buy back cash?
Paying 40p for £1 worth of assets shouldn't be a difficult call!?
Starting to show a bit of positive movement
Sold my legal and general in my sipp bought Georgia capital.
UP
I think it's time for this share to start moving.
I am inclined to sell out of some of my shares. Specially legal and general. Which have a beta of 1.5. Despite being a beneficiary of higher interest rates. Presently up 62% on bank of Georgia. Fair chance Georgia capital will follow
Bank of Georgia heralded the strong Georgian economy in its update to the market. We are at 55% discount to NAV - keep the buy backs coming CGEO!
Can't find the link to todays webcast. Anyone help?
SD, arguably even wine is a staple :)
Can't say I've ever had the pleasure of a Georgian Vintage however.
It's defensive in the verticals: Hospitals, insurance, clinics, pharmacy, education, renewables, utilities --- mainly boring businesses, but in an interesting economy.
Defensive play as in?
It's holding are (other than wine) are definitely in the Consumer defensive/staples sectors.
I think CGEO is getting tarred with a Russian brush. But value will out. It's also good for diversification and is quite a defensive play in the current uncertain env't.
I found this article very insightful as to the complexity of the political situation but interesting too that there appears to be a brain drain of skilled Russian seeking to move to a democratic, free country.
https://globalvoices.org/2022/08/12/georgia-and-russia-spar-with-online-bullying-historical-grievances-and-visa-regulations/
Agricore
Market doesn't think much of it.
Odd as bank of Georgia just keeps going up.
Plus paying Georgia capital large dividends.
The accounts were to June so its share price has moved up considerably since then.
Transfers from Russia to Georgia are also a record. According to the latest data, almost 700 million US dollars have been transferred from Russia to Georgia. Many Russian citizens acquire property and register businesses in Georgia. Private Russian schools and kindergartens will be opened by September. Most of the prestigious restaurants play Russian music.
What can be connected with the abundance of Russian tourists in Georgia?
https://www.interpressnews.ge/ka/article/722447-giorgi-kunaze-rusetis-rezhimis-kraxi-gardauvalia-dges-ukve-cxadad-chans-rom-es-mxolod-drois-sakitxia
thanks to https://www.lse.co.uk/chat/general/general/the-georgian-election-1D3531D6-391B-42B4-9C9C-C9F8383D0BB8.html?page=22
Agreed 1472 is a nice number.
Market not that bothered either way.
SD I think we can be (very) happy with 1472p.
Personally I'm happy they carry on with the buy backs. The uplift today is in large part to the 6% of shares hoovered up at a bargain price. Long term that's the most lucrative way to appreciate the value here.
GLA
1292 to 1400 is 8.35% gain. Very likely.
Oops forgot about the buy backs they have been very consistent.
Now I am inclined to think 1400 is achievable.
Not that it matters a huge amount as 672 is getting close to 50% discount which is ridiculous.
What we need is the sale of one business with part of the sale proceeds paid to shareholders.
Agricore
"My estimation will be that it's actually been a positive."
How have you come up with this estimate?
As an aside the rather dramatic increase in the share price of bank of Georgia should mean a reasonable increase in NAV unless other parts of the portfolio are devalued.
Is that 1400 a re rating of the NAV.?
Not impossible but I think the other companies have to move upwards. Higher profits and lower risk are the requirements.
I'm looking forward to Friday's Q2 results. Last reported NAV was 1292p and there's been buy backs since then. A rerate to 1400p+ isn't impossible, but holding the NAV steady during a turbulent period of war, shortage and pessimism will be impressive. The question is to what extent (if any) the Ukraine war has been a positive or negative for Georgia?
My estimation will be that it's actually been a positive.
GDP in Georgia is expected to reach 19.00 USD Billion by the end of 2022 (from 18.60 USD Billion 2021), according to Trading Economics global macro models and analysts expectations. Further ahead, the Georgia GDP is projected to trend around 21.00 USD Billion in 2023 and 22.00 USD Billion in 2024, according to its econometric models.
If that's true that's accelerating growth to circa 5%.
On the other hand up 1.5% on Bank of Georgia
Agricore
I am down 6% your fault!
PS also bought some bank of Georgia. If it goes back to its previous divided it works out at 12%.
Agricore
Bought at 647.
If I lose money I am blaming you. As a proper man I don't believe I should except responsibility for my actions!!
Agricore
I wish it would stop rising!!
I am thinking I may sell a dud in my isa and buy bank of Georgia. Dirt cheap. If it reverts to its previous divided based on Fridays price it would be a 12% dividend.
Anyone think of reason why not??