Bank of Georgia To Enter FTSE 250 and FTSE All-Share Indices
Bank of Georgia Holdings PLC (LSE: BGEO LN), (the “Company” ), the holding company of JSC Bank of Georgia and its subsidiaries (the “Bank”), Georgia’s leading bank, welcomes yesterday’s announcement by the FTSE that the Company’s shares will be included in both the FTSE 250 Index and the FTSE All Share Index from 15 June 2012.
In order to qualify for membership of the FTSE 250 Index, the Bank has been required to meet a number of criteria, which cover factors such as market capitalisation, free float and average daily trading. The Company believes that its shares are now likely to be added to the holdings of FTSE 250 and FTSE All Share Index Funds, creating further significant improvements in the liquidity of its securities.
Irakli Gilauri, 36, Chief Executive Officer of Bank of Georgia Holdings plc, commented:
“Our inclusion in both the FTSE 250 and FTSE All-Share Indices is another major step forward for Bank of Georgia to further increase the liquidity of our shares and our profile in international capital markets, following our Premium Listing in February 2012. Through our UK-incorporated holding company and with our strong track record on corporate governance, we offer UK and emerging market institutional investors access to the fast-growing Georgian economy and banking sector; we are unique among FTSE banks not only because of our emerging markets focus but also because of the strength of our balance sheet with a 23% core Tier I ratio (BIS basis), our high levels of liquidity and profitability and our growth prospects.