50 pct of Mavi Jeans to be traded in stock exchange
Turkish apparel giant, Mavi Jeans will put up about 50 percent of its shares in the Borsa Istanbul Stock Exchange, with the possibility of selling an additional 15 percent of its stocks.
Details of the public offering by Mavi Jeans, which appealed to the Capital Markets Board (SPK) at the end of April, are now becoming clearer.
In an official statement, the clothing company said, approximately 50 percent of the shares of Blue Private Holding B.V., owned by the Turkven-led Turkish Private Equity Fund II and the Akarlı family, will be subject to the public offering.
Additional shares may be also offered to the public, depending on the demand, and on condition that they do not exceed 15 percent of the company's total capital.
The public offering will be aimed at foreign corporate investors as well as domestic corporate and individual investors.
The statement gave no information about the company's capital, however, it revealed that the consolidated revenue of Mavi Giyim in the 2016 fiscal year was TL 1.3 billion ($370 million), and its earnings before interest taxes depreciation and amortization (EbitDA) was TL 170.2 million.Goldman Sachs has been designated as the global coordinator of the public offering and Goldman Sachs and BofA Merrill Lynch will collect the overseas demand. Meanwhile, İş Yatırım will be the coordinator at home.
Details of the public offering by Mavi Jeans, which appealed to the Capital Markets Board (SPK) at the end of April, are now becoming clearer.
In an official statement, the clothing company said, approximately 50 percent of the shares of Blue Private Holding B.V., owned by the Turkven-led Turkish Private Equity Fund II and the Akarlı family, will be subject to the public offering.
Additional shares may be also offered to the public, depending on the demand, and on condition that they do not exceed 15 percent of the company's total capital.
The public offering will be aimed at foreign corporate investors as well as domestic corporate and individual investors.
The statement gave no information about the company's capital, however, it revealed that the consolidated revenue of Mavi Giyim in the 2016 fiscal year was TL 1.3 billion ($370 million), and its earnings before interest taxes depreciation and amortization (EbitDA) was TL 170.2 million.Goldman Sachs has been designated as the global coordinator of the public offering and Goldman Sachs and BofA Merrill Lynch will collect the overseas demand. Meanwhile, İş Yatırım will be the coordinator at home.