May 4, 2018 / 6:27 PM / a year ago

Turkey's Boyner says decides to cancel Beymen IPO due to low demand

ISTANBUL, May 4 (Reuters) - Turkish clothing retailer Boyner Perakende said on Friday its board had decided to cancel the initial public offering of its Beymen Magazacilik unit as a result of low demand stemming from recent high volatility in emerging markets.

In a statement to the Istanbul stock exchange, Boyner said its board “will evaluate the transaction in the future”. Boyner revealed in December that it planned to hold an IPO for up to 49 percent of Beymen. (Writing by Daren Butler. Editing by Jane Merriman)

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