Georgia lender floats above target

Bank of Georgia, the former Soviet republic's second biggest bank, has priced its initial public offering above its indicative range, and has set it sights on raising $160m (€124m), 3% higher than its original target.

The bank priced 6.6 billion primary shares and 1.1 billion global depositary receipts at $18 per share, after an original price range of $15 to $17.50 per share.

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