Turkey's Martı Gayrımenkul Yatırım Starts İpo Process

Turkish real estate company Marti Gayrimenkul Yatirim Ortakligi AS said Friday it will hold an initial public offering in 2010.

Turkish real estate company Marti Gayrimenkul Yatirim Ortakligi AS said Friday it will hold an initial public offering in 2010.



In a press statement, the company said it has authorized Oyak Securities to start studies for the IPO process.



Marti Gayrimenkul Yatirim aims to sell a minimum 46% stake in the IPO, the statement said. The company expects to complete the process in mid-April, it added.



Marti Gayrimenkul is a subsidiary of Marti Group, one of the leading brands in Turkey's tourism industry.