Global Ports Holding (GPH) has made its debut on the London Stock Exchange and is preparing for its next phase of expansion as a listed company.
The cruise port operator has announced the successful pricing of its initial public offering (IPO) at £0.74 per share.
This gives the Turkish company a market capitalization of around £464.9m with an issued share capital of 62.8m shares.
Emre Sayin, chief executive of GPH, said: “We have been very pleased with the strong interest in our offer and we would like to thank our investors for supporting us during this exciting time for our business.
“We are proud of our unique business model and ambitious plans for the future, which will create value for all our stakeholders.”
GPH will receive £51.7m from the IPO which will be used to fund its expansion plans.
The company has added six ports in the last 18 months and currently controls a portfolio of 14 in eight countries.
Mehmet Kutman, chairman and co-founder of GPH, said: “We look forward with confidence to the next stage of our development as a listed company.”
