(Alliance News) - Georgia Capital PLC on Thursday announced plans to cut its share of listed assets by growing its private portfolio and begin managing third-party money within Georgia.
The company, which invests in businesses in Georgia, said it has added these plans as "two more pillars" to its core strategy.
One new strategic aim is to shrink down its share of listed to 20% of the company's portfolio in the next five years, and the other new pillar is "to start managing third-party money in Georgia".
Georgia Capital said the other elements of its core strategy are unchanged. These include: capitalising on the Georgian economy; maintaining a disciplined approach to capital allocation; focusing on high-quality assets; and aiming to keep platform costs at around a 2% maximum of market capitalisation.
By 2025, Georgia Capital is aiming for its education business to generate earnings before interest, depreciation, taxation, and amortisation of GEL70 million, or approximately GBP19 million, per annum from the investment of GEL185 million in gross capital allocation to its education business, which invests in private schools.
"By driving the development of greenfield projects, efficiency improvements and growth across its portfolio, Georgia Capital aims to deliver total shareholder returns of 10-times over 10-years," said the company.
Shares in Georgia Capital were down 0.2% at 1,068.00 pence on Thursday morning in London.
Georgia Capital (CGEO)