Demand for Georgian Oil and Gas Corporation’s shares on London Stock Exchange exceeds application
Georgia, Tbilisi, May 14 / Trend, N.Kirtskhalia /
A package of securities of the Oil and Gas Corporation of Georgia worth $250 million was placed on the London Stock Exchange, the Georgian government said on Monday.
According to the report the demand for shares exceeded the initial application by four times and as a result, the interest rate fell to 7.125 per cent on the first day of trading.
The Oil and Gas Corporation of Georgia represents the country in international projects and ensures the transit of energy resources through Georgian territory. In particular, the Corporation operates the main North-South gas pipeline through which Armenia receives natural gas from Russia.
Initial placement of a minority stake of another state owned company, Georgian Railway is planned to be carried out in Tbilisi.