December 20, 2017 / 5:35 AM / 10 months ago

Turkey's Boyner says IPO to be held for up to 49 percent of Beymen unit

ISTANBUL, Dec 20 (Reuters) - Turkish clothing retailer Boyner Perakende said on Wednesday its wholly owned subsidiary Beymen Magazacilik would hold an initial public offering (IPO) for up to 49 percent of the company.

It said in a statement to the Istanbul stock exchange that the IPO would be held “to strengthen the financial structure of the company and establish a balance sheet structure to support sustainable and profitable growth”. It said the company had share capital of 156,225,000 lira ($41 million). ($1 = 3.8350 liras) (Reporting by Can Sezer; Editing by Daren Butler)

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