January 26, 2018 / 9:16 AM / a year ago

Turkey's Medical Park prices IPO at up to 28.8 lira, to raise up to $488 million: filing

ISTANBUL (Reuters) - Medical Park, Turkey’s largest private hospital chain, has priced its initial public offering at up to 28.8 lira a share, it said in a filing, valuing the floatation at up to 1.82 billion lira ($488 million).

Medical Park said in a regulatory filing that 63.3 million shares, valued between 24 and 28.8 lira each, would be offered between February 1-2, after gaining approval from Turkey’s Capital Markets Board.

Of that, 38.3 million shares are currently held by existing partners in the company, Medical Park said. An additional 25 million shares will be raised by increasing the company’s issued capital to 201.46 million lira, it said.

Reporting by Ceyda Caglayan; Writing by Ali Kucukgocmen; Editing by David Dolan

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