ANKARA: Global Yatirim Holding AS, a Turkish private-equity manager, hired international and local advisers to manage a planned initial public offering at its port unit Global Liman.
The Istanbul-based holding company picked Citigroup Inc., Renaissance Capital Holdings and Bank of America-Merrill Lynch as international banks and Ak Investment, Is Investment and Garanti Securities to manage the local sales of shares, it said in a public filing today. Unlu & Co will also act as an IPO adviser to Global Yatirim, it said.
Global Yatirim plans the IPO of Global Liman Isletmeleri AS, as the unit is formally known, in May, Chairman Mehmet Kutman said in an interview Jan. 28. The unit operates ports in Turkey’s Antalya, Bodrum and Kusadasi as well as those in Lisbon and Barcelona, with partners.
Kutman expects to raise $250 million to $500 million from the initial public offering of the ports unit, which also sold $250 million of 7-year bonds in November in its first international bond sale.
