Turkish pay-TV platform Digiturk has said its offer of up to 50 million global depositary receipts will be priced within a range between $9 and $11 (€6.30 and €7.70). The London listing is scheduled to take place on November 9.
Digiturk is placing 25% of the company with the market with a further 2% held back in case of over-allotment of shares. Credit Suisse, JP Morgan, and Lehman Brothers are acting as joint global coordinators of the deal.
Digiturk, which is valued at around $1.5 billion (€1.11 billion), is currently owned by Cukurova Holding (53%) and Providence Equity Partners. Launched in 2000, it has around 1.2 million subscribers.