Turkey’s Soyut mulls unit IPO, invests in Malaysia
The turbine factory will be built in Malaysia and have capacity to produce 40 megawatts annually-says official.
February 23, 2011 2:06 by Reuters
Turkey’s Soyut Group, which has interests in energy, construction and finance, may apply to regulators in November to list shares in its investment unit, a company official said on Wednesday.
The investment unit will own shares in all Soyut Group companies, Ali Colak, a member of the Soyut Enerji board, told Reuters in an interview. Ankara-based Soyut Group had revenues of 65 million lira in 2010, he added.
Colak also said Soyut Enerji, a wind turbine maker, and Malaysia’s Melewar Industrial Group plan an initial investment of 30 million euros in a production plant.
The turbine factory will be built in Malaysia and have capacity to produce 40 megawatts annually, Colak said.
(Reporting by Evrim Ergin; Editing by Hans Peters)