Despec Turkey expects USD 22.6mn from IPO.

By bne IntelliNews November 24, 2010
Despect Turkey, a joint venture between local Index Group and Despec Group BV, expects to raise a USD 22.6mn from the IPO where the company will offer a 39.35% stake. Bids will be collected between Nov 25 and Nov 26. Despec Turkey distributes computer accessories and stationery. Erol Bilecik from Despec Turkey says that the company will use the proceeds from the IPO to support growth and finance new investments. After the IPO, acquisitions may be on Despec's agenda and potential targets will be computer accessories companies, Bilecik asserts.

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