New York / Istanbul August 6, 2007 LAWFUEL – The Legal Newswire – White & Case has advised on a trio of Turkey-related initial public offerings, as investor confidence in Turkey has been marked by a surge in listings of companies from or with their principal business interests in the country. The growth of the Turkish economy over the last five years has been consistently strong, and the financial markets have welcomed the recent national election results.
The most recent initial public offerings (IPOs) on which White & Case advised include:
Representing Sinpas Gayrimenkul Yatirim Ortakligi A.S., a residential real estate investment company incorporated in Turkey, in its TRY 510 million (approximately $390 million) IPO on the Istanbul Stock Exchange. The White & Case team advising Sinpas was led by Istanbul-based partner Aydin Duren and New York-based partner Laura Sizemore.
Acting for FinansInvest as international co-ordinator and bookrunner in the TRY 233.45 million (approximately $171 million) IPO of Albaraka Türk Katalim Bankası A.S on the Istanbul Stock Exchange. Albaraka Türk is a participation bank that offers a wide range of interest-free products and services to both commercial and retail customers. The White & Case team acting for FinansInvest was led by Laura Sizemore in New York and Aydin Duren in Istanbul.
Advising Bermudan company EastPharma Ltd., in its $200 million IPO and listing of Global Depositary Receipts on the Official List of the London Stock Exchange. EastPharma is active in the manufacturing and marketing of branded generic pharmaceuticals in Turkey. The White & Case team advising EastPharma was led by partner Laura Sizemore in New York, partner Greg Stonefield in London and partner Aydin Duren in Istanbul.
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