Bizim Toptan, a Turkish cash-and-carry chain, is seeking an initial public offering of about $200 million in Istanbul, according to terms for the sale obtained by Bloomberg.
As much as 35 percent of Bizim Toptan will be offered by its shareholders Yıldız Holding, a Turkish group which owns, regional food giant Ülker and Godiva chocolates, and Golden Horn Investments BV. The stock will start trading on Feb. 3, the terms showed.
Bank of America Corp is managing the international offering and is joint global coordinator with Standard Ünlü Menkul Değerler, Standard Bank Group Ltd.’s Turkish unit, according to the terms. Managers for the sale, also including Turkish broker Garanti Investment, will take orders between Jan. 17 to Jan. 28.
Bizim Toptan is only selling existing shares in the IPO. Net income over the first nine months of 2010 increased 56 percent from the year-earlier period to 21.4 million liras ($13.5 million), Recep Özalp, Bizim Toptan chief executive, said in an e-mailed statement on Jan. 8. Revenue at the company, which has 109 stories, increased 17 percent to 1.1 billion liras, according to Özalp.
As much as 35 percent of Bizim Toptan will be offered by its shareholders Yıldız Holding, a Turkish group which owns, regional food giant Ülker and Godiva chocolates, and Golden Horn Investments BV. The stock will start trading on Feb. 3, the terms showed.
Bank of America Corp is managing the international offering and is joint global coordinator with Standard Ünlü Menkul Değerler, Standard Bank Group Ltd.’s Turkish unit, according to the terms. Managers for the sale, also including Turkish broker Garanti Investment, will take orders between Jan. 17 to Jan. 28.
Bizim Toptan is only selling existing shares in the IPO. Net income over the first nine months of 2010 increased 56 percent from the year-earlier period to 21.4 million liras ($13.5 million), Recep Özalp, Bizim Toptan chief executive, said in an e-mailed statement on Jan. 8. Revenue at the company, which has 109 stories, increased 17 percent to 1.1 billion liras, according to Özalp.
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