LONDON (Alliance News) - Georgia Capital PLC on Thursday said it is to start a share buyback programme worth up to USD45 million, believing its share price "significantly" undervalues the firm's opportunities.
Georgia Capital was formed from the split of BGEO Group PLC into Bank of Georgia Group PLC and Georgia Capital, both of which are now separately listed in London.
The company has enlisted brokers Numis Securities Ltd and Investec Bank PLC to carry out the buyback, and said it can do so due to its "robust" balance sheet.
Shares were 2.4% higher Thursday at a price of 1,100.00 pence each.
Georgia Capital (CGEO)