Enerjisa IPO delayed one year: Executive

ISTANBUL- Hürriyet Daily News

The initial public offering of Sabancı-E.ON joint venture Enerjisa, which was originally planned for 2015, has been delayed until 2016, according to Sabancı Energy Group President and Chairman Selahattin Hakman.

Speaking in an interview with private broadcaster CNBC-e, Hakman shared the future plans of the company, which is owned in a 50-50 percent partnership between Turkey’s Sabancı Holding and German energy giant E.ON.

Enerjisa, which had earlier won the power grid in Ankara for $1.23 billion, recently won two other grids, the Ayedaş and Toroslar Electricity distribution regions, for a sum of nearly $3 billion. The company currently serves electricity to more than 9 million customers in Turkey.

Hakman said the company wanted to expand its presence in the electricity sector by entering generation tenders but does not have other plans on the distribution side.

“We will make use of the opportunities in this [energy generation] field,” he said.

In his remarks, Hakman added that the company wanted to be involved in the energy bourse that is planned to be established soon.

Energy Minister Taner Yıldız said July 16 that the private sector would take a share in the bourse, which is hoped to be a hub for the region, as the Turkish Electricity Transmission Company (TEİAŞ) and Borsa Istanbul will each have 30 percent. He stressed that over 100 private sector representatives had already applied to be a part of the bourse.

Enerjisa is also closely monitoring shale gas developments in Turkey and may step in if potential is seen, Hakman also said.