Turkey-based cruise port operator Global
Ports Holding (GPH) has listed its initial public offering (IPO) on London
Stock Exchange (LSE).
The company was officially listed on LSE on
May 17.
With the pricing of its offer at 740 pence
per share, the floatation gives the company a market capitalization of GBP 465
million (around USD 605.7 million).
The company said it will receive net
proceeds of about GBP 51.7 million, which will be used to develop and expand
the cruise business.
“The announcement is a significant moment for Global Ports Holding
and I would like to welcome our new shareholders who share our … vision… We
look forward with confidence to the next stage of our development as a listed
company,” Mehmet Kutman, Chairman/Co-Founder of GPH, said.
Established in 2004, GPH operates fourteen
ports in eight countries.
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