JSC Teliani Valley (wine company) has said to Sarke that it aims to issue shares these days, which will be floated on the Georgian Stock Exchange in 2 weeks, approximately. Total volume of emission will make 20-25%.
According to Teliani Valley, owner of 32% is brokerage company Galt&Taggart Capital (the daughter structure of Bank of Georgia), while the rest is held by 3 private individuals. In 2006, Galt&Taggart Capital bought out 29% of Teliani Valley from European Bank for Reconstruction and Development, which had owned them from May 2004.
Lado Gurgenidze, chairman of Bank of Georgia supervision council, mentions that in case of successful stock floating, the interest may be expressed from foreign companies. The negotiations are undergoing with Azerbaijani companies regarding their shares floating on Georgian Stock Exchange through Galt&Taggart Capital.
Gurgenidze mentioned as well the interest toward Azerbaijan financial market and did not exclude the possibility of joint investment projects realization.
