14.Aug .2020 23:50

Metro Avrasya Investments Group Advancing Capital Markets in Georgia by Going IPO with Euphoria Hotel

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The company shares of Georgian-Turkish tycoon Mr. Galip Ozturk, "Metro Euphoria Hotel Batumi JSC" were listed on the Georgian Stock Exchange recently. Class B shares (ISIN GE1100003932) were admitted to the Category B listing as well as the trading system of the Georgian Stock Exchange. The following Shares Exchange Code (Ticker) - MEHBB was provided.

Euphoria Hotel Batumi JSC currently has a total nominal value of GEL 54,476,929 on the Georgian stock exchange with a nominal price of 1 GEL for each share. The company has also issued 6,052,993 Class A shares, 1 share of which is equal to 15 votes and participates in the election of the Supervisory Board, while the price of 1 Class B share provides 1 vote.

The parent company, Metro Avrasya Investments Group, firmly believes that the “Stock Exchange Markets” play an important role in developing countries, since one of the major challenges that developing countries face is capital formation. The difference is that the capital structure of developed nations comprises of multiple types of capital goods assembled in factories and industries.

In order to develop a modern capital structure, someone must invest in buying capital goods and the Metro Avrasya Investments Group, as one of the pioneering tourism and construction groups in Georgia (by sheer capital and turnover), continually aims to broaden the scope of prospective local and international investors and create a safe harbor for opportunities.

"Metro Euphoria Hotel Batumi" was established in 2017 and initially included the management of the hotel "Euphoria" located in Batumi and the restaurant in it. In 2017-2019, the company leased 4 hotels: "Business Legend", "Intourist", "Metro Sky Tower" and apartments in Euphoria. Also, for 3 months of 2019, the company managed City Hotel Batumi, with which the company renewed its contract from March 2020.