First Turkish Firm to IPO on Nasdaq Hits $3.9 Billion Value
- E-commerce platform gets $738 million from IPO of 20% stake
- Franklin Resources still backs the firm even as it cuts stake
Source: Hepsiburada
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Hepsiburada.com was valued at $3.9 billion in its initial public offering on Nasdaq, the first such listing on the exchange by a Turkish firm.
The company, one of Turkey’s largest online shopping platforms, sold shares at $12 apiece and is planning to use the proceeds to offer additional services such as booking flights and money transfers, according to Hanzade Dogan Boyner, the founder and chairwoman.