Georgian Railway plans IPO on London Stock ExchangeApril 16, 2012 - 13:47 AMT PanARMENIAN.Net - Georgia is planning to sell up to 25 percent of shares in the state railway monopoly through an Initial Public Offering (IPO) on London Stock Exchange (LSE) in May, as the fast-growing ex-soviet republic seeks foreign investment. The IPO would take place in the form of Global Depositary Receipts (GDR) to be listed on the LSE, the Georgian ministry of economy and sustainable development said in a statement. According to Reuters, Citigroup and Goldman Sachs International have been appointed as joint global coordinators and joint bookrunners. "Our IPO will now mark another stage in Georgian Railway's evolution, bringing a greater profile and visibility to the value we are creating to support our long term expansion plans in the region," Irakly Ezugbaia, the Georgian Railway CEO, said in a statement. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |