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Turkish online retailer Hepsiburada launches IPO roadshow on NASDAQ

Reuters
Updated ·1-min read

(Corrects the number of shares offered to 56.74 million from 54.74 million in paragraph 1)

ISTANBUL (Reuters) -Turkish e-commerce platform Hepsiburada launched a roadshow for its initial public offering of 56.74 million class B shares on NASDAQ, the company said on Wednesday.

In a statement, the company said the IPO price is expected to be between $11-$13 per share and Morgan Stanley, J.P. Morgan Securities and Goldman Sachs will act as lead bookrunners in the listing.

Hepsiburada said it is expecting to grant the underwriters a 30-day option to purchase up to an aggregate of 8,511,000 additional Class B ordinary shares at the offering price, less the underwriting discount.

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BofA Securities and UBS Securities will be acting as co-managers, the company said.

Hepsiburada said it receives more than 250 million monthly visitors on its website which includes more than 44 million items.

(Reporting by Ebru TuncayWriting by Ezgi ErkoyunEditing by Daren Butler)