Turkish bus company Metro in talks with European fund: Chair

ISTANBUL

Galip Öztürk, the chair of Turkey’s Metro Holding, has said his intercity bus service company is in talks with a European fund for the sale of shares.

The negotiations could be concluded this month, Bloomberg News’ Taylan Bilgiç quoted Öztürk as saying on March 2.

However, the chairman did not cite the name of the fund.

The company may increase its invested capital to 150 million Turkish Liras from the current 100 million liras, Öztürk said, adding that it might sell 50 million shares with a 5-lira per share price tag.

The company is also considering a public offering, but the volume of such a move has not yet been decided, Bloomberg News quoted Öztürk as saying.

Metro Holding said in a filing to Borsa Istanbul, the stock exchange, last month that it would resume a public offering process of its Metro Tourism, which was cancelled in 2014.

Öztürk later said that about two-thirds of Metro Tourism shares could be opened to the public.