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3,76% of TAV Airports shares were sold at TRY 19.85 per share

Posted 13 September 2017 · Add Comment

Tepe İnşaat and Sera Yapi, both TAV Airports shareholders have sold a total of 13 million 659 thousand 376 shares at 19.85 TL per share, corresponding to 3,76 % of the share capital of the company. The shareholders have pledged not to sell any more shares for 270 days.

After the sale, Tepe İnşaat will hold 5,06% and Sera Yapı will hold 1,29% of the share capital of the company. The float of TAV Airports will increase to 44,33%

TAV Airports CEO and Board Member Dr. M. Sani Şener said:

“As founding shareholders of TAV Airports, we only sold a portion of our shares. Our shareholding and board membership continues. Sera Yapı moved together in proportion with the share sale of Tepe İnşaat. Although, small in quantity compared to the latest share sales in Borsa Istanbul, high demand by foreign institutional investors resulted in a very fast placement which shows confidence to our country and our company.”

Sani Şener will continue as the CEO of the company until beginning of 2020 and after 2020 he will be the Chair of the Board of Directors for at least two years. The Board of Directors is composed of five members nominated by Groupe ADP, one candidate each nominated by Sera and Tepe and four independent members, comprising a total of 11 members.

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