Two Turkish firms apply for initial public offering
ISTANBUL- Hürriyet Daily NewsSabancı Holding’s electronics chain, Teknosa, has applied to the Capital Markets Board (SPK) of Turkey for an initial public offering (IPO).
In a statement to the Istanbul Stock Exchange (İMKB) on Feb. 22, Sabancı Holding said: “We have applied to the Capital Markets Board for an initial public offering for our subsidiary Teknosa.”
Meanwhile, 18.52 percent of Niğbaş, one of Anatolia’s largest industrial firms, under the Işıklar Holding umbrella, will be offered to the public. Niğbaş will use the funds from the IPO towards expanding its production, adding variety to its product pool and increasing its number of employees, according to the company’s press release.