Bank of Georgia (BGEO) has taken full control of Avante, its healthcare and insurance subsidiary, after buying 80 per cent of it last month. The business is Georgia's second-largest healthcare provider and should bolster the lender's growth profile.
Unfortunately, however, such solid operational factors aren't driving sentiment towards shares in the Georgian lender just now. Rather, it's events in another former soviet state - Ukraine - that have had the biggest impact. As the crisis exploded into the headlines, fuelled by uncertainty over Russian intentions, Bank of Georgia's shares tumbled 12 per cent to 2,050p - below the level of our sell tip (2,138p, 6 Feb 2014). They've since bounced back to 2,291p, but the rollercoaster ride may not be over yet.
