Brief: Aviva closes AvivaSA IPO, extends agreement with Akbank

Agesa Hayat ve Emeklilik

10/11/2014 08:01

Nov 10 (Reuters) - Aviva Plc  AV.L  
    * Aviva closes ipo of AvivaSA 
    * Final price is Turkish lira 47 per lot of 100 shares, in 
top quartile of initial price range, valuing company at Turkish 
lira 1.68 bn 
    * Avivasa is expected to be listed as "Avisa" on Istanbul 
Stock Exchange from 13 November 2014 
    * Pricing represents an implied multiple of 18x Avivasa's 
historical net income 
    * Avivasa's 15-year exclusive distribution agreement with 
akbank extended until 2029 
 
Source text for Eikon:  ID:nRSJ5619Wa  
Further company coverage: [AV.L IPO-AVIVASA.IS] 
 
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Keywords: AVIVA/BRIEF