May 5, 2018 / 6:08 AM / in a year

Turkish retailer DeFacto cancels IPO on low demand -Is Yatirim Menkul

ANKARA, May 5 (Reuters) - Turkish clothing retailer DeFacto has cancelled its initial public offering, citing low demand stemming from recent high volatility in emerging markets, said Is Yatirim Menkul, a local broker for the IPO.

In a statement to the Istanbul stock exchange overnight on Friday, Is Yatirim Menkul said DeFacto’s board “will evaluate the transaction in the future”.

A draft prospectus revealed in March that DeFacto aimed to list up to 29.81 percent of its shares. (Reporting by Can Sezer; Writing by Tuvan Gumrukcu; Editing by Himani Sarkar)

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