February 12, 2018 / 2:03 PM / a year ago

UPDATE 1-Turkey's Sok, DeFacto and Beymen among IPO "second wave" in May -sources

(Adds quote, details)

By Ebru Tuncay and Birsen Altayli

ISTANBUL, Feb 12 (Reuters) - Four Turkish firms - discount grocer Sok, clothing retailer DeFacto, high-end retailer Beymen and logistics company U.N. Ro-Ro - are all expected to hold initial public offerings (IPO) in May, two sources familiar with the matter said.

The listings mark a second wave of flotations this year, the sources said, as Turkish companies take advantage of stock prices at record levels and robust international demand for Turkish listings.

Already this year Turkey has seen IPOs from energy firm Enerjisa Enerji, private hospital MLP Saglik Hizmetler and port operator Trabzon Port.

“Sok’s public offering will be large. They are sounding out investors and demand for Sok is quite good,” said one of the sources, declining to be identified because the information is not yet public.

Sok’s IPO might be in the range of $700 million to $1 billion, with 35-40 percent of the firm listed on the stock exchange, the source said.

DeFacto plans to list 30-40 percent and might reap around $300 million, the source said, adding that Beymen and U.N. Ro-Ro were also looking to list in May.

A second source said the prospectuses for all four IPO would be released soon.

“There will be large public offerings in May,” the second source said.

Sok declined to comment.

A DeFacto representative said it had not made a decision on a listing, nor an official application for a listing. Beymen and U.N. Ro-Ro were not immediately available for comment. (Reporting by Ebru Tuncay and Birsen Altayli; Writing by Ezgi Erkoyun; Editing by David Dolan)

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