Europap Tezol Begins IPO Offering on the Istanbul Stock Exchange

According to Fastmarkets RISI, Turkish tissue producer Europap Tezol has begun an initial public offering (IPO) on the Istanbul Stock Exchange at a price of Lira 13.87 ($1.67) per share.
Twenty percent of the shares in the company are on offer, with Turkish law allowing for an additional 4 percent to be sold if demand persists.

According to the company, the IPO only involves existing shareholders’ shares, and will not result in a capital injection. The brokerage firm Deniz Yatirim is leading the IPO in addition to a consortium of some 30 other finance companies.

Europap Tezol has a capacity of 100,000 metric tpyof box wipes, napkins, toilet paper and paper towels.

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