Georgia's ruling party on Tuesday selected Bidzina Ivanishvili, a billionaire ex-prime minister who is widely believed to be the country's most influential figure, as its lead candidate for a parliamentary election on Oct. 26, Paralel.Az reports citing Georgian media.

Ivanishvili served as prime minister from 2012-2013 and has been honorary chairman of the ruling Georgian Dream party since December.

Current prime minister and close Ivanishvili ally Irakli Kobakhidze was designated the party's number two candidate, Georgian media said.