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Georgian Companies’ Shares Drop on London Stock Exchange After Adoption of Agents Law

After the adoption of the Russian-style foreign agents law in its third and final reading, the prices of shares of Georgian companies listed on the London Stock Exchange fell significantly. While prices of large companies often fluctuate, today’s sharp drop was seen by some experts as a direct result of the adoption of the highly controversial Foreign Agents Law, which triggers sanctions from the West.

Within hours of today’s trading, as of 15:00 Tbilisi time, Bank of Georgia shares plunged about 15 percent. Shares of Georgia Capital fell by around 9 percent and shares of TBC Bank saw an 12 percent drop.

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