Indebted Turkish Group Looks to Cash In With Plan for Unit’s IPO
Bloomberg 2/23/2021 Ercan Ersoy
(Bloomberg) Aydem Holding AS, which underwent Turkey’s second-largest debt restructuring, applied for an initial public offering of its renewable-electricity producer.
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Garanti Yatirim, Is Yatirim, Turkiye Kalkinma ve Yatirim Bankasi AS and Yapi Kredi Yatirim will lead the offering of shares in Aydem Yenilenebilir Enerji AS, according to an emailed statement on Tuesday. Halk Yatirim, Vakif Yatirim and Ziraat Yatirim will act as co-leaders. There is no certainty that the IPO will take place, the company said.
Aydem Holding joins a flurry of small and medium-sized Turkish companies rushing to list on Borsa Istanbul and cash in on a flood of local retail investors. The re-branded company formerly known as Bereket Enerji restructured $5 billion of loans in 2019.
Indebted Turkish Group Looks to Cash In With Plan for Unit s IPO msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Turkish Small Caps Race to List as Stock Market Hits Record
Bloomberg 2/5/2021 Tugce Ozsoy and Ercan Ersoy
(Bloomberg) Turkey’s smaller companies are rushing to tap public markets and cash in on a flood of local retail investors, who have helped push the country’s stocks to new highs.
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Three companies have filed with the Istanbul exchange recently, targeting initial public offerings this year, including Verusa Holding AS’s construction unit Aldem Celik and Odas Elektrik AS’s coal miner Can Komur. And at least another seven companies said they are considering going public in Turkey in 2021. If all of the listings materialize, it would be Borsa Istanbul’s busiest year for IPOs since 2014, according to data from Turkey’s Capital Markets Board.