(Adds details about the company and public offering)
ISTANBUL, May 15 (Reuters) - Turkish clothing retailer Mavi Giyim plans to list on the Istanbul stock exchange, the company said on Monday, an initial public offering that will see a 50 percent stake in the jeans brand floated.
Mavi, which was founded in Istanbul in 1991 and has become one of Turkey’s best known clothing brands abroad, has nearly 400 shops and a presence in some 35 countries.
The offering will see 50 percent of the company sold by the founding Akarlilar family and a private equity fund, Turkish Private Equity Fund II. They may also sell up to an additional 15 percent, Mavi said.
The shares will be offered to international institutional investors, and domestic retail and institutional investors, Mavi said.
Mavi achieved a consolidated revenue of 1.31 billion lira ($368.11 million) and an EBITDA - earnings before interest, tax, depreciation and amoritisation - of 170.2 million lira in the 2016 financial year.
Goldman Sachs is acting as global coordinator and, together with Bank of America Corp’s Merrill Lynch, as joint international bookrunners. Turkey’s Is Yatirim is acting as domestic coordinator and bookrunner for the global offering. ($1 = 3.5587 liras) (Writing by Ezgi Erkoyun; Editing by Daren Butler and David Dolan)