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Koza Owners Sell $211.8 Million of Shares via Goldman

Koza Altin Isletmeleri AS, a Turkish gold miner, said owners including Koza Anadolu Metal Madencilik Isletmeleri AS sold $211.8 million worth of its shares via Goldman Sachs Group Inc.

The sale of 16.8 million of its shares at 19.5 liras each was aimed at increasing Koza Altin’s free float, with Koza Ipek group companies still controlling 70 percent of the company, Koza Altin said in a statement to the Istanbul Stock Exchange today. Buyers weren’t identified.

The shareholders, which also include Koza Ipek Holding AS, ATP Insaat & Ticaret AS, and Ipek Matbaacilik Sanayi & Ticaret AS, raised 328.2 million liras ($211.8 million) from the share sale, Goldman Sachs Group Inc., the sole book-runner for the placement, said in an e-mailed statement today.

Koza Altin fell 1.45 liras, or 6.7 percent, to 20.30 liras at 4:52 p.m. in Istanbul, heading for the biggest drop since June 2010. Koza Anadolu dropped 4 kurus, or 0.8 percent, to 4.79 liras. Ipek Matbaacilik advanced 5 kurus, or 1.4 percent, to 3.63 liras.

The Ipek family, which owns the companies, has agreed to not sell more shares for 90 days, Goldman said.

Editor: Mark Bentley

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