(Adds details about the company and public offering)
ISTANBUL May 15 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
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
($1 = 3.5587 liras)
(Writing by Ezgi Erkoyun; Editing by Daren Butler and David