ANKARA: Turkish low-cost carrier Pegasus Airlines aims to launch an initial public offering of around a third of the company in mid-April with most of the shares to be allocated to foreign investors, sources close to the deal told Reuters.
The Istanbul-based airline had said last week the offering, managed by Barclays and Is Yatirim, would help fund expansion, increasing its capital to 102 million lira ($57 million) from 75 million.
The sources said 65-80 percent of the sale would be made to foreign investors. The sale will leave the airline with a free float of 31.4 percent, increasing to 34.3 percent if the greenshoe option is exercised, according to stock exchange data. (Reuters)
