June 6, 2017 / 10:00 AM / 8 months ago

Turkey's Mavi majority stake to be held by Akarlilar family after IPO- CEO

ISTANBUL, June 6 (Reuters) - Turkish fashion retailer Mavi Giyim’s majority stake will be held by the founding Akarlilar family while Turkven will have a minority stake following the company’s public offering, chief executive Cuneyt Yavuz said on Tuesday.

Speaking in a conference call about the listing on the Istanbul stock exchange Yavuz said the company will set up a new management board, which will be chaired by Ersin Akarlilar.

The company aims to distribute a 30 percent dividend each year, he added. (Reporting by Can Sezer; Writing by Ezgi Erkoyun; Editing by Daren Butler)

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