Debt-Ridden Group Readies for Turkey’s Biggest IPO in Years
- Aydem Holding plans IPO of renewable-power unit next quarter
- Energy group expects to raise around $300 million, people say
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Aydem Holding AS is gearing up for an initial public offering of its renewable-electricity producer next quarter that could value the unit at as much as $1.5 billion, according to people with knowledge of the matter.
The re-branded company formerly known as Bereket Enerji, which last year underwent Turkey’s second-largest debt restructuring, revived plans to sell shares in Aydem Yenilenebilir Enerji AS, said the people, who asked not to be named because the information is confidential. The IPO is happening a year later than first anticipated after the coronavirus outbreak deterred investors.