 Tamer Bilici, the Bilici Group's finance chief, says the company will offer one-fourth of its shares to the public. AA photo |
Bilici Group, a textile company based in the southern city of Adana, has completed preparations for an initial public offering, or IPO, according to its chairman.
The company is led by Mehmet Ali Bilici, a former lawmaker and candidate of the Justice and Development Party, or AKP, for the Adana mayorship.
With activities such as cotton planting, fabric and filament production and dyeing facilities, Bilici has an important place in Turkish textiles. As part of its IPO plans, the company has merged Misis Textile and Biltaş Bilici Textile, creating the “Bilici Investment, Real Estate, Textile, Tourism, Energy, Construction, Industry and Trade” company.
Bilici applied to the Capital Markets Board in September 2009 and to the Istanbul Stock Exchange last month for the upcoming IPO. Speaking to Anatolia news agency, Tamer Bilici, the company’s finance group chief, said Bilici had been a leading company in agriculture and textiles for the past six decades.
“We produce 1.5 million meters of fabric per month in our Adana facilities,” Bilici said. “We export to nearly 20 countries, including the United States. Our company has recently doubled capacity in the thread facility in the Osmaniye Organized Industrial Zone.”
The company plans to offer 25 percent of its shares to the public in February.
“With this resource, we will invest in energy and tourism,” Bilici said. In the first phase, the company plans to establish hydroelectric power plants in Erzurum, Malatya and Kahramanmaraş provinces. It also plans to construct a 10-story, five-star hotel in Adana. The construction will cost around 20 million euros.
The company is led by Mehmet Ali Bilici, a former lawmaker and candidate of the Justice and Development Party, or AKP, for the Adana mayorship.
With activities such as cotton planting, fabric and filament production and dyeing facilities, Bilici has an important place in Turkish textiles. As part of its IPO plans, the company has merged Misis Textile and Biltaş Bilici Textile, creating the “Bilici Investment, Real Estate, Textile, Tourism, Energy, Construction, Industry and Trade” company.
Bilici applied to the Capital Markets Board in September 2009 and to the Istanbul Stock Exchange last month for the upcoming IPO. Speaking to Anatolia news agency, Tamer Bilici, the company’s finance group chief, said Bilici had been a leading company in agriculture and textiles for the past six decades.
“We produce 1.5 million meters of fabric per month in our Adana facilities,” Bilici said. “We export to nearly 20 countries, including the United States. Our company has recently doubled capacity in the thread facility in the Osmaniye Organized Industrial Zone.”
The company plans to offer 25 percent of its shares to the public in February.
“With this resource, we will invest in energy and tourism,” Bilici said. In the first phase, the company plans to establish hydroelectric power plants in Erzurum, Malatya and Kahramanmaraş provinces. It also plans to construct a 10-story, five-star hotel in Adana. The construction will cost around 20 million euros.
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