Hepsiburada Announces Pricing Of Initial Public Offering
D-MARKET Electronic Services & Trading, known as Hepsiburada, has priced its initial public offering of 56,740,000 American Depositary Shares (ADSs) at $12.00 each. The offering includes 41,670,000 ADSs from Hepsiburada and 15,070,000 from a selling shareholder. Trading on the Nasdaq under the ticker symbol HEPS is set to commence on July 1, 2021, with the offering expected to close on July 6, 2021. The underwriters also have a 30-day option to purchase an additional 8,511,000 ADSs. Major investment banks are handling the offering.
- Initial public offering priced at $12.00 per ADS, potentially attracting investor interest.
- Hepsiburada's ADSs will trade on the Nasdaq, enhancing visibility and access to a broader investor base.
- Offering involves a significant number of shares, which could lead to dilution for existing shareholders.
NEW YORK, July 1, 2021 /PRNewswire/ -- D-MARKET Electronic Services & Trading ("Hepsiburada"), a leading Turkish e-commerce platform, today announced the pricing of its initial public offering of 56,740,000 American Depositary Shares ("ADSs") representing 56,740,000 Class B ordinary shares (41,670,000 offered by Hepsiburada and 15,070,000 offered by a selling shareholder) at a price to the public of
The ADSs are expected to begin trading on the Nasdaq Global Select Market under the ticker symbol "HEPS" on July 1, 2021, and the offering is expected to close on July 6, 2021, subject to customary closing conditions. In addition, the selling shareholder has granted the underwriters a 30-day option to purchase up to 8,511,000 additional ADSs at the initial public offering price less underwriting discounts.
Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Goldman, Sachs & Co. LLC, BofA Securities, Inc. and UBS Securities LLC are acting as the bookrunning managers for the offering.
A registration statement relating to the sale of these securities has been filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering is being made only by means of a prospectus. When available, copies of the final prospectus relating to and describing the terms of the offering may be obtained from any of the following sources:
- Morgan Stanley & Co. LLC Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014
- J.P. Morgan Securities LLC, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: +1-866-803-9204, email: prospectus-eq_fi@jpmchase.com
- Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: +1-866-471-2526, email: Prospectus-ny@ny.email.gs.com
Contacts
Investors:
Helin Celikbilek, Investor Relations Director
helin.celikbilek@hepsiburada.com
Media:
Harika Eldoğan, Head of Public Relations
harika.eldogan@hepsiburada.com
Brunswick Group hepsiburada@brunswickgroup.com
Azadeh Varzi
Caroline Daniel
Nick Beswick
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SOURCE Hepsiburada
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