TURKEY: Coca-Cola Icecek IPO details released
Coca-Cola Co's Turkish unit has confirmed details for its initial public offering. Coca-Cola Icecek said today that it had applied to the country's Capital Markets Board for a planned IPO of around 30% of the company in the second half of June.
In a statement, the company said that the public offering would be the one of the largest in Turkey in recent years.
In March, the company signalled that it planned an IPO through a capital increase and the sale of shares held by existing shareholders. At the time, it did not specify a time period.
Domestic beverages company Anadolu Efes has a 33.33% stake in the company. Anadolu Group, which owns Anadolu Efes, has a total 40% stake. Coca-Cola Co. also owns 40% of the local firm, while the Ozgorkey family owns the remaining 20%.
Under the IPO plan the firms Coca-Cola Co., Ozgorkey Icecek Yatirim and Etap Icecek Yatirim will sell a total nominal TRL54.16 trillion (US$35.23m) of their current holdings.
There will also be a nominal TRL21.3 trillion capital increase, raising the company's total nominal capital to TRL245 trillion.
The offer will be lead managed by Is Yatirim Menkul Degerler in a domestic and international consortium.
Sectors: Soft drinks
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