Turk Telekom IPO priced near top of range

ANKARA, May 12 (Reuters) - An initial public offering for Turkish fixed-line operator Turk Telekom TTKOM.IS has been priced at 4.6 lira a share, near the top of an initial range of 3.9-4.7 lira, Privatisation Administration Chairman Metin Kilci said on Monday.

The price values the whole company at 16.1 billion lira ($12.8 billion). Kilci said the offering would raise $1.9 billion.

Turkey is selling a 15 percent stake in Turk Telekom, or 17.25 percent including an over-allotment option, in the second phase of its privatisation. The operator was first privatised in 2005, when Dubai-based Oger Telecom bought a 55 percent stake.