Turkish pension firm Avivasa opens up 3.2 pct in stock market debut
ISTANBUL, Nov 13 (Reuters) – Shares in Avivasa, the Turkish joint venture pension system of British insurer Aviva Plc and also Turkey’s Sabanci Holding, opened 3.2 percent at 48.5 lira in their securities market launching on Thursday.
Aviva as well as Sabanci completed the flotation of a 19.7 percent stake in Avivasa on Monday, valuing the firm at 1.68 billion lira ($746 million), in an offering that was virtually three times oversubscribed.
(Reporting by Can Sezer and also Birsen Altayli; Creating by Nick Tattersall)
- Financial investment & & Company Information
- Aviva Plc
- Sabanci Holding