Preparing Businesses Included Into BGEO Group for IPO

Preparing Businesses Included Into BGEO Group for IPO

Last year the revenue of BGEO Group acceded one bln GEL. According to the annual report of the group, in 2016, the revenue of BGEO made 1,014.8 GEL, and in 2015, it was 861 million GEL, out of which 428 million was the profit. The share of investment business of the group was 60.8 million.

In its report, the Group notes that along with utility business, it is also preparing renewable energy business for IPO. Public offering of the Georgian Global Utilities’ stock will be launched within the period of 2-3 years. GGU holds utility and energy equity in Georgia, including “Georgian Water and Power”, “Rustavi Water” and “Mtskheta Water”.

As for the renewable energy, BGEO is planning to invest in this sector 28 million USD.

GGU is planning to reach over 80 million GEL of EBIDTA. Construction of solar and wind power stations is planned for 2019. The capacity of the stations will be 20 MG watt.

“Our goal for 2-3 years is IPO for combined – utility and renewable energy business,” – states the Group report.

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