June 12, 2017 / 6:38 AM / a month ago

Turkey's Mavi IPO priced at 43 lira, bottom end of range

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ISTANBUL, June 12 (Reuters) - Turkish fashion retailer Mavi Giyim's initial public offering (IPO) was priced at 43 lira per share, domestic coordinator Is Yatrim said on Monday, a price at the bottom end of the range and valuing the company at some 2.14 billion lira ($606 million).

A total nominal 27.3 million shares were sold in the offering, with foreign institutional investors taking 74 percent. Sources close to the matter said last month the IPO was seen priced at 43-51 lira per share, valuing it at up to 2.5 billion lira ($700 million). ($1 = 3.5297 liras) (Reporting by Can Sezer; Writing by Daren Butler; Editing by David Dolan)

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