Turkey’s Aydem Group Plans 2025 IPOs for Power Grid Operators
Live Mint-- Aydem Enerji Yatirimlari AS, a Turkish power generator and distributor, is preparing initial public offerings for two of its units in the first half of 2025. The group is planning listings for GDZ Elektrik Dagitim AS and ADM Elektrik Dagitim AS on the Istanbul bourse that could value the two grid operators at $2.2 billion and $1.5 billion respectively, Aydem Enerji Chief Executive Officer Serdar Marangoz said in an interview. GDZ Dagitim, which sells power to 3.9 million users and has an 8% share in Turkey’s power distribution market, has about $160 million in annual regulatory investment obligations. An IPO in ADM Dagitim is likely to go ahead first as GDZ Dagitim is also weighing an increase in a $400 million bond issuance deal from October, Marangoz said. Aydem Yenilenebilir, which is Aydem Enerji’s listed renewables unit, could offer a fresh stake to raise funding for investments in generation capacity, Marangoz said.
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