Mavi Borsa İstanbul IPO

15/6/2017
IPO

TL 1.174 billion

$ 333.624 million

Completed

15/6/2017


Overview:

  • Turkish clothing manufacturer Mavi Giyim Sanayi ve Ticaret has completed an IPO on the Borsa İstanbul.
  • The company issued a total of 27,311,350 shares. Of these, 16,624,300 were offered by Blue International Holding to institutional investors in offshore transactions outside of the US and Turkey and to qualified institutional buyers in the US. A further 7,124,700 were offered to retail and institutional investors in Turkey, with the remaining 3,562,350 sold to cover over-allotments.
  • The shares initially traded at TL43 per share, pricing the offering at more than TL1.17 billion and giving the company a market capitalisation of more than TL2.13 billion.
  • Goldman Sachs served as global coordinator and international bookrunner for the issue, with Bank of America Merrill Lynch also serving as international bookrunner.
  • İş Yatırım Menkul Değerler acted as the domestic coordinator and bookrunner.
  • Mavi has nearly 400 shops and a presence in some 35 countries and is planning to expand its foothold in the United States, Canada, Germany, Russia.

Jon Moore - Journalist

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