Turkcell, Turkey’s largest mobile operator, will offer 25% in subsidiary Global Tower in an IPO.
Turkcell that announced the IPO plans for its wireless tower unit first in April provided details of the public offering in a bourse filing on October 10. The price range for the offering is set at TRY3.82 (€1.12) to TRY 4.46 (€1.3) per share. The domestic prospectus for the offering is currently under review by the Capital Markets Board, Turkcell said in the statement.
Global Tower is the first and only standalone tower company and the largest dedicated telecom infrastructure operator in Turkey in terms of tower portfolio and fifth largest standalone tower company in Europe, according to the information on the company’s website. It provides all site services to GSM and fixed-based operators, TV and radio broadcasters, public institutions and service providers.
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