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

  • Limak Investments may sell gives later this year or in 2019
  • Chairwoman Ö zdemir is setting up Center East base in Kuwait

Limak Investments, which is part of an organization building Istanbul’ s new six-runway airport, is considering an initial community offering later this year or following, rekindling a plan it shelved this year after equity markets tumbled.

" We are looking for the right window to relocate forward, " Chairwoman Ebru Ö zdemir said in an interview along with Bloomberg TV in Kuwait. " All our companies are ready. Our own cement group is the second-biggest concrete group in Turkey. Our facilities and energy groups, likewise. "

Limak has expanded into creating roads in Russia and international airports in Kosovo, Senegal and Kuwait, and now has 65, 000 workers and operations in 17 nations since touting the sale for a 30 percent stake in its company seven years ago. The company may come to promote amid a boom in European share sales that last year leaped to the highest since 2011, based on data compiled by Bloomberg. This year might be more than five times 2017’ t levels, according to local brokerage, Will be Yatirim.

One of the projects Limak can be working on is the Istanbul airport, that will open in October with an preliminary annual capacity of 90 mil passengers, rising to 200 mil when it’ s completed, Ö zdemir said. Limak will function the facility with its partners regarding 25 years. The airport will be among the largest in the world and compares with Dubai’ s Al Maktoum International, which is able to handle more than 220 mil travelers when it is done.

No agents have been chosen for the IPO however, Ö zdemir said.

Kuwait Base

1 / 2 of Limak’ s revenue is through construction, while other segments consist of power generation, distribution and investing, cement, infrastructure, and hotels, the lady said.

Limak’ h $4. 6 billion airport task in Kuwait, awarded in 2016, will have an ultimate capacity associated with 50 million travelers a year. Ö zdemir said there are still more tasks to bid on in Kuwait because the country embarks on a 17-year intend to wean its economy from reliance on oil.

Read more regarding Kuwait’ s push for a post-oil economy here.

After winning the particular airport project, " we flipped our attention to this region, and particularly Kuwait, and would like to use Kuwait as our base for long term investments, " Ö zdemir stated. Limak plans to partner with nearby investors to win infrastructure tasks in Iraq, Saudi Arabia plus Oman, she said.