Hospital groups lead the way as 2018 shapes as year of IPO’s
After exper enc ng almost three consecut ve seasons of drought, 2018 s shap ng up to be the year of n t al publ c offer ngs (IPO’s). At least three large IPO’s are bel eved to be planned for next year, two of wh ch nvolve lead ng hosp tal groups n Turkey.
Memor al and Med cal Park w ll be the most attract ve IPO’s n 2018, where one or both could double l st n London alongs de Istanbul. After the successful l st ng of Mav Jeans last year, other apparel reta lers are also expected to follow su t.
Only f ve IPO’s worth a mere $37 m ll on were conducted n 2015. Another two added only $27 m ll on offer ngs n 2016 and Mav Jeans ra sed $377 m ll on n
June th s year, together w th a $7m ll on offer ng of Fonet n May.
Next year looks set to be d fferent.
Med cal Park currently owns 29 hosp tals – set to ncrease to 33 by the end of the year – compr s ng 4,979 beds. Turk sh pr vate equ ty company Turkven, wh ch conducted 2017’s largest IPO, s plann ng to offload ts shares n the health group, wh le the Usta fam ly and Sancak Group are the company’s other shareholders. Accord ng to rumours, the company could make a dual l st ng.
Borsa Istanbul s the target
Memor al owns 10 hosp tals, wh le Qatar F rst Investment Bank (QFIB) and Argus Cap tal hold 40% n the group and fam lyowned Turgut Ayd n Hold ng holds the balance. Borsa Istanbul s the target for th s l st ng.
Other than reta l, ndustry compan es such as packag ng, energy, m n ng and software are plann ng IPO’s. Global Tower, wh ch canceled ts IPO at the 11th hour n Istanbul last year, s another cand date for l st ng n 2018, however, ts next move could be a dual l st ng.