Georgian Stocks on the LSE Correct After Strong Gains
After two weeks of predominantly positive performance, shares of the largest Georgian companies listed on the London Stock Exchange moved into correction territory. From 17 to 21 August, all three major issuers ended the week lower, although Friday’s session allowed them to recover part of their earlier losses.
The most pronounced decline was recorded by TBC Bank Group (TBCG). The bank’s shares closed the week at £47.50, compared with £49.32 the previous Friday. This represented a 3.69% weekly decline. Most of the decline occurred at the beginning of the week: shares fell by around 2.5% on Monday and Tuesday before stabilising. On Friday, the stock gained 0.76% and closed well above its intraday low.
Lion Finance Group (BGEO) recorded a weekly correction of 3.11%. After closing at £135.10 on 14 August, the shares continued to decline at the beginning of the new week, falling to £129.10 on Tuesday. Prices remained under pressure on Wednesday and Thursday, before rising 2.51% on Friday to finish the week at £130.90.
Despite the correction, Lion Finance remains close to historically high levels: its 52-week high stands at £136.20, reached on 14 August. During the week, the group also continued its share buyback programme.
Georgia Capital (CGEO) recorded the most moderate decline among the three companies. After closing at £44.85 the previous Friday, the shares fell to £43.80, losing 2.34% over the week. As with the other issuers, most of the correction came during the first part of the week: shares declined steadily from Monday through Wednesday, while Friday brought a 5.29% gain, fully recovering the previous session’s decline and closing at the day’s high.
Georgia Capital’s share performance unfolded against the backdrop of its ongoing capital allocation programme. On 14 August, the company announced the launch of a new $50 million share buyback and cancellation programme, expected to run for six to nine months. The programme represents the first stage of a broader capital allocation programme of up to GEL 1 billion through the end of 2029.
Overall, the past week was the first in recent weeks in which all three Georgian issuers on the LSE ended the trading period in negative territory simultaneously. At the same time, the pattern of trading was more consistent with a correction following strong gains than with a sharp change in the underlying fundamental picture: the decline was concentrated mainly at the beginning of the week, while Friday’s rebound allowed the shares to recover part of their earlier losses.
Weekly performance is calculated based on closing prices on 14 and 21 August 2026. Share prices are stated in pounds sterling.
