Istanbul-based company plans $250 mln IPO on London Stock Exchange

Global Investment Holding has announced it will soon start the initial public offering process for its port investments in the London Stock Exchange for an expected IPO volume at around $250 million. 

In a statement to the Public Disclosure Platform (KAP), the Istanbul-based company said the IPO roadshows will begin on May 2 and the IPO volume is expected to be $250 million in volume. 

It added that the IPO process would be completed in May. 

Barclays Bank PLC, Citigroup Global Markets Limited and Goldman Sachs International have been appointed as Joint Global Coordinators and together with VTB Capital plc as Joint Bookrunners, according to the statement. Shore Capital is acting as the lead manager. 

The company shares increased 13.8 percent, seeing a 17-year high early on April following the statement. 

The company's port business has 14 ports in eight countries across the world. Six more ports were added in the last 18 months, with a pipeline of near term opportunities in the Mediterranean, Caribbean and Asia, according to the company's previous announcements.

The company offers services to around 7.5 million passengers each year and it has a 25 percent market share in the Mediterranean.