Turkey’s Hepsiburada.com valued at $3.9bn in Nasdaq IPO

Hespiburada.com, one of Turkey’s largest online shopping platforms, was valued at $3.9bn in its IPO on Nasdaq, the first such listing on the exchange by a Turkish firm.

Hepsiburada.com was valued at $3.9 billion in its initial public offering on Nasdaq, the first such listing on the exchange by a Turkish firm. The company, one of Turkey’s largest online shopping platforms, sold shares at $12 apiece and is planning to use the proceeds to offer additional services such as booking flights and money transfers, according to Hanzade Dogan Boyner, the founder and chairwoman. “We are aiming to use the proceeds to expand our services not only in our home market of Turkey but also in nearby and high-potential markets,” she said Thursday in an online media briefing shortly before the company’s shares start trading in New York. “There are strong markets in the Middle East, North Africa and eastern Europe.”