Bank of Georgia hammered by Georgian election upset

Bank of Georgia Holdings suffered steep falls on Tuesday on concerns over political uncertainty in its domestic market after a surprise upset in the parliamentary elections.

Bank of Georgia Holdings suffered steep falls on Tuesday on concerns over political uncertainty in its domestic market after a surprise upset in the parliamentary elections.

Shares in the group, which is the holding company of Bank of Georgia, were down 7.28% at 1,185p before the close in London after current President Mikheil Saakashvili admitted that the opposition, the Georgian Dream Party (GDP), had the majority of the vote.

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