Turkish pension firm Avivasa debut lifts Sabanci listed firms to 12 (updated)

Agesa Hayat ve Emeklilik

13/11/2014 13:32

(Adds Sabanci details, updates share price) 
    ISTANBUL, Nov 13 (Reuters) - Avivasa  AVISA.IS , the Turkish 
pension joint venture of British insurer Aviva  AV.L  and 
Turkey's Sabanci Holding  SAHOL.IS , began trading on Thursday, 
lifting Sabanci's share in Bourse Instanbul to 12 percent of 
total market capitalisation. 
    The listing also raised the number of Sabanci companies 
trading on the exchange to 12, the conglomerate's board 
chairwoman Guler Sabanci said. Its market share was 9 percent 
before the float. 
    Aviva and Sabanci completed the flotation of a 19.7 percent 
stake in Avivasa on Monday, valuing the firm at 1.68 billion 
lira ($746 million), in an offering that was almost three times 
oversubscribed.  ID:nL6N0T01M8  
    Avivasa shares opened up 3.2 percent and were up 0.53 
percent at 47.25 lira by 1215 GMT. 
    Turkey's second-biggest conglomerate, Sabanci group 
companies include lender Akbank  AKBNK.IS , insurer Ak Sigorta 
 AKGRT.IS  and cement makers Akcansa  AKCNS.IS  and Cimsa 
 CIMSA.IS . 
    Koc Holding remains Turkey's biggest company, accounting for 
around 16 percent of total market capitalisation on Bourse 
Istanbul. It also has 12 listed companies, including refiner 
Tupras  TUPRS.IS  and white goods maker Arcelik  ARCLK.IS . 
     
 
 (Reporting by Can Sezer and Birsen Altayli; Writing by Nick 
Tattersall and Ece Toksabay; Editing by Jonny Hogg and Susan 
Thomas) 
 ((nicholas.tattersall@thomsonreuters.com; Reuters Messaging: 
nicholas.tattersall.thomsonreuters.com@reuters.net)) 
 
Keywords: AVIVASA LISTING