E.ON: Turkey's Enerjisa's IPO oversubscribed
(CercleFinance.com) - German energy group E.
ON said on Monday that the initial public offering offer of its Turkish local joint venture Enerjisa was oversubscribed to 4.8 times, particularly due to high demand from international investors.
As a reminder, E.ON bought 50% of the Turkish energy distribution and retail company from Vienna-based Verbund in 2013.
The IPO represents 20% of the company, with each of the joint venture's shareholders - E.ON and Sabanci - each selling an equal number of shares.
The transaction values the company at approximately 1.58 billion euros.
The stock is scheduled to begin trading in Istanbul on 8 February.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
ON said on Monday that the initial public offering offer of its Turkish local joint venture Enerjisa was oversubscribed to 4.8 times, particularly due to high demand from international investors.
As a reminder, E.ON bought 50% of the Turkish energy distribution and retail company from Vienna-based Verbund in 2013.
The IPO represents 20% of the company, with each of the joint venture's shareholders - E.ON and Sabanci - each selling an equal number of shares.
The transaction values the company at approximately 1.58 billion euros.
The stock is scheduled to begin trading in Istanbul on 8 February.
Copyright (c) 2018 CercleFinance.com. All rights reserved.