Hepsiburada Announces Launch of Initial Public Offering

Rhea-AI Summary

D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi, known as Hepsiburada, has initiated the roadshow for its initial public offering (IPO) of American Depository Shares (ADS) representing Class B ordinary shares. The company plans to offer 56,740,000 Class B shares, with 41,670,000 shares from Hepsiburada and 15,070,000 from a selling shareholder. The IPO price is projected between $11.00 and $13.00 per ADS, with plans to list on NASDAQ under the ticker symbol 'HEPS'. Major banks including Morgan Stanley and J.P. Morgan are managing the offering.

Positive

• Potential capital raise of up to $738.62 million based on the upper price limit.
• Presence of reputable bookrunning managers may enhance investor confidence.

Negative

• Possible shareholder dilution due to the offering of additional Class B shares.
• Market uncertainty surrounding the company's debut on NASDAQ.

NEW YORK, June 23, 2021 /PRNewswire/ -- D-MARKET Elektronik Hizmetler ve Ticaret Anonim Şirketi ("Hepsiburada") today announced that it has launched the roadshow for its proposed initial public offering of its American Depository Shares representing Class B ordinary shares. Hepsiburada has filed a registration statement on Form F-1 with the Securities and Exchange Commission (SEC) to offer, along with a selling shareholder, 56,740,000 Class B ordinary shares to the public (41,670,000 offered by Hepsiburada and 15,070,000 offered by the shareholder). In addition, the selling shareholder is expected to grant the underwriters a 30-day option to purchase up to an aggregate of 8,511,000 additional Class B ordinary shares. The initial public offering price is expected to be between $11.00 to $13.00 per ADS. Hepsiburada has applied to list on the NASDAQ Global Select Market under the ticker symbol "HEPS".

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Goldman, Sachs & Co. LLC, BofA Securities, Inc. and UBS Securities LLC are acting as the bookrunning managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. A copy of the prospectus relating to the proposed offering may be obtained from any of the following sources:

• Morgan Stanley & Co. LLC Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014
• J.P. Morgan Securities LLC, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: +1-866-803-9204, email: prospectus-eq_fi@jpmchase.com
• Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: +1-866-471-2526, email: Prospectus-ny@ny.email.gs.com

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Contacts
Investors:
Helin Celikbilek, Investor Relations Director
helin.celikbilek@hepsiburada.com 

Media:
Harika Eldoğan, Head of Public Relations
harika.eldogan@hepsiburada.com

Bob Christie / Azadeh Varzi / Caroline Daniel / Nick Beswick
Brunswick Group
hepsiburada@brunswickgroup.com

 

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SOURCE Hepsiburada

FAQ

What is the purpose of Hepsiburada's IPO and how many shares are being offered?

Hepsiburada is launching its IPO to sell 56,740,000 Class B ordinary shares to raise capital.

What is the expected price range for Hepsiburada's IPO?

The expected IPO price range is between $11.00 and $13.00 per American Depository Share (ADS).

When will Hepsiburada's IPO be available for purchase?

Hepsiburada's IPO will be available once the registration statement filed with the SEC becomes effective.

Which financial institutions are managing Hepsiburada's IPO?

Morgan Stanley, J.P. Morgan, Goldman Sachs, and others are the bookrunning managers for the IPO.

What ticker symbol will Hepsiburada use to trade on NASDAQ?

Hepsiburada will trade under the ticker symbol 'HEPS' on the NASDAQ.