Carlyle-Backed Lingerie Maker Penti Said to Explore Istanbul IPO

Turkey’s top lingerie maker, in which U.S. buyout firm Carlyle Group owns 30%, is exploring going public in Istanbul as early as next year, according to people with knowledge of the matter, setting the stage for a rare initial public offering by a local textile retailer.

Penti Giyim Ticaret AS has approached three financial advisers to manage an IPO and is working to meet regulatory requirements to ready the Istanbul-based company for a potential share sale, said the people, who asked not to be named because the plans are still confidential.