The Government of Georgia has become a 100% shareholder of Georgian Railway, marking a change in the major company operating rail services across the country.
A London Stock Exchange statement sent to investors on December 23, 2022 announced the change in the ownership of the company.
Previously, Georgian Railway was wholly owned by the state-owned Partnership Fund.
“It should be highlighted that despite the Company being considered an indirect state enterprise, GR never used budget financing”, the LSE statement noted.
Georgian Railway reported a profit of GEL 507 million ($188.86 million) in the January-September 2022, up by 11% YoY.
Only one large asset, Georgian Oil and Gas Corporation, remains on the account of the Partnership Fund. (Agenda/Business World Magazine)
