Turkey's Trendyol plans dual IPO when revenue abroad is 30-35% | Reuters
Turkish e-commerce firm Trendyol, backed by Chinese internet giant Alibaba (9988.HK), plans a dual-listing IPO in New York or London when its income from foreign sales reaches 30-35% of total revenue, the group's chief executive said.
Trendyol, one of Turkey's best known platforms, has drawn backing from foreign investors and holds a leading position in Turkey's fragmented e-commerce market.
"Before a public offering we want to see revenue abroad, which is around 5% of total revenue right now, rise to 30-35%," President of Trendyol Group Caglayan Cetin said in embargoed remarks late on Tuesday.
In a meeting with reporters, Cetin also said the company is planning its initial public offering (IPO) in 2024-2025 but that teams are making a serious effort to bring it forward to next year.
No comments:
Post a Comment