Turkey's biggest airport builder and operator in Turkey, TAV Investments Holding, took action for for Initial Public Offering (IPO). The action took was for less half of the company's 400,000,000 YTL capital. With investments in neighboring countries, TAV authorized HSBC and CSFB to go ahead with its public offering process. According to TAV managers, the company plans to open to the public next fall. Sources in London said Friday the company's value is expected to be about 1.5 billion after the IPO.
TAV Investment Holding was established in 2005 as an umbrella company for some of the operations of Tepe-Akfen Ventures consortium in Ankara , Izmir, and abroad. Tepe and Afken groups have 50-50 percent shares in the holding. TAV had also bought HAVAS, a ground handling service company, last year and has begun to grow in this field as well.