Local logistics firm goes public for growth
ISTANBUL- Hürriyet Daily News
Haldun Gedizşener. Company photo
Gentra Logistics, an Istanbul-based Turkish logistics firm, prepares to make public 44 percent of its shares at the Istanbul Stock Exchange (İMKB) between Nov. 30 and Dec. 2, according to a statement yesterday.
Gentra Logistics aims to increase the company’s current total capital of 5.5 million Tukrish Liras to 8.5 million liras following the initial public offering (IPO), a company statement said. The carrier set a price of 2.9 liras a share in an offering.
“We have decided to make new investments this year,” said Haldun Gedizşener, the company’s board chairman. “We would like to make new investments in warehouses and extend our shipping and transportation vehicles following the IPO.”
The company also plans to open new logistic centers in Ethiopia. “We needed to obtain financing for our major investments,” Gedizşener said, explaining the details of the IPO