Edison Report Highlights Georgia Capital's NAV Growth and Market Position

Edison Investment Research has published a report on Georgia Capital (LSE: CGEO), noting a 6.2% quarterly increase in net asset value (NAV) per share in Q3 2024 in Georgian lari terms, and a 3.3% rise in sterling. The report highlights the operational success of Georgia Capital’s private portfolio companies. However, its shares in the Bank of Georgia remained flat, following a prior devaluation due to political uncertainties.

The report also mentions the positive impact of Georgia Capital's sale of its beer and distribution business, which contributed an additional 1.8 percentage points to NAV. Strategic buybacks further enhanced NAV by 2.4 percentage points, funded by high recurring dividends. Despite improvements, shares trade at a 48.9% discount to NAV, slightly better than the previous year's average discount of 54.6%.