Migros: Bottom of Turkey's blue chip index as shareholder sells shares at discount

Migros Ticaret AS

22/11/2019 08:23

** Shares in Turkish food retailer Migros  MGROS.IS  down
6.4% after BC Partners sell 20 million shares in an accelerated
book building  urn:newsml:reuters.com:*:nFWN28200E
    ** Sale price is set at 22.5 lira per share, which implies a
9% discount to Thursday's closing of 24.74 lira
    ** Yatırım Finansman Securities  says a discount might lead
to a "short lived hiccup" but sees any weakness as a buying
opportunity for the stock
    ** The brokerage sees potential upside for the company over
the deal price, with further re-rating in case of faster than
expected deleveraging
    ** The stock is the worst performer in Turkey's blue chip
index  .XU100 
    

 ((berna.suleymanoglu@thomsonreuters.com))