Turkey's Kiler to start trading shares in ISE

The second largest operator in the supermarket segment of Turkey's food retail market will begin trading its shares in the Istanbul Stock Exchange as of January 27.

Turkey's Kiler to start trading shares in ISE

The second largest operator in the supermarket segment of Turkey's food retail market will begin trading its shares in the Istanbul Stock Exchange (ISE) as of January 27.

Kiler Alisveris Hizmetleri Gida Sanayi & Ticaret announced pricing of TL 6.1 per Class B Shares of TL 1.0 each. The pricing has been set at the top of the indicative price range at TL 6.1 per Class B Share.

A total of 20,193,000 Class B Shares were offered. Of the total of 20,193,000 Class B Shares, 11,086,000 Class B Shares were offered outside the United States and Turkey to institutional investors in offshore transactions and 9,107,000 Class B Shares were offered to retail and institutional investors in Turkey.

The expected net proceeds to be received by the company from the issuance of new Class B Shares will be used to finance part of the acquisition of its subsidiary, Kiler Ankara, and to finance the acquisition of new stores as part of the company's growth strategy and the opening and improvement of stores and for general corporate purposes.

The issuance and delivery of the Class B Shares will to take place on January 26, 2011, and the Class B Shares will be listed on the Istanbul Stock Exchange on January 27, 2011.

The company is the second largest operator in the supermarket segment of Turkey's food retail market in terms of sales, representing approximately 3.5 percent of the supermarket segment, and the fifth largest operator in Turkey's total food retail market by sales for the year ended December 31, 2009. The Company has undertaken a successful expansion strategy over the last eight years, increasing from 17 stores in the Marmara region in 2002 to 171 stores in five regions in the country as of September 30, 2010, 68 of which were held by the Company?s consolidated subsidiary, Kiler Ankara.
 

AA

Last Mod: 26 Ocak 2011, 11:20
Add Comment