The Builder of One of the World’s Largest Airports Revives IPO

  • Limak Investments may sell shares afterward this year or in 2019
  • Chairwoman Ozdemir is setting up Middle East base in Kuwait

    Limak Investments, which falls within a group building Istanbul’s brand-new six-runway airport, is considering an initial offering afterward this year or next, resurrecting a hope it shelved in 2011 after equity groceries tumbled.

    “We are looking for the right window to move forward, ” Chairwoman Ebru Ozdemir said in an interview with Bloomberg TV in Kuwait. “All our companionships are ready. Our cement group is the second-biggest cement radical in Turkey. Our infrastructure and vigour groups, likewise.”

    Limak has expanded into building superhighways in Russia and airports in Kosovo, Senegal and Kuwait, and currently has 65,000 employees and business in 17 countries since toutingthe sale of a 30 percentage stake in its business seven years ago. The fellowship may come to market amid a boom in Turkish share auctions that last year pranced at the very highest since 2011, according to data compiled by Bloomberg. This year may be more than 5 times 2017′ s elevations, according to regional brokerage, Is Yatirim.

    One of the projects Limak is working on is the Istanbul airport, which will open in October with an initial annual ability of 90 million passengers, rising to 200 million when it’s accomplished, Ozdemir supposed. Limak will operate the facility with its partners for 25 years. The airfield will be one of the largest in the world and compares with Dubai’s Al Maktoum International, which will be able to handle more than 220 million travelers when it is done.

    No advisers have been chosen for the IPO yet, Ozdemir said.

    Kuwait Base

    Half of Limak’s revenue is from construction, while other segments include electricity generation, dissemination and trading, cement, infrastructure, and hotels, she said.

    Limak’s $ 4.6 billion airport assignment in Kuwait, awarded in 2016, will have an eventual faculty of 50 million travelers a year. Ozdemir said there are still more projects to bid on in Kuwait as the country launches on a 17 -year plan to wean the world economy from dependence on oil.

    Read more about Kuwait’s push for a post-oil economy now .

    After winning international airports programme, “we curved our attention to this region, and extremely Kuwait, and would like to use Kuwait as our base for future financings, ” Ozdemir supposed. Limak plans to partner with local investors to win existing infrastructure in Iraq, Saudi Arabia and Oman, she said.

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