Global Yatırım Holding A.Ş. (GIH) has sold 4 million shares in Global Ports Holding (GPH), via an accelerated bookbuild placing at a price of GBP4.35 (US$5.55). GIH intended to sell a minimum of 2 million shares, representing approximately 3% of the issued share capital of GPH, but this was increased as a result of additional investor demand.

GIH will retain an interest in approximately 59.3% of the voting shares of GPH following settlement of the trade. GIH formerly held an aggregate interest in 65.63% of the voting shares in GPH.

In addition, Centricus Partners LP, which holds 31.25% of the shares in GIH, and its affiliates have acquired in aggregate an interest in approximately 2.3% of the voting shares of GPH as a result of their participation in the placing.

The placing was managed by Barclays Bank PLC, Citigroup Global Markets Limited and Shore Capital Stockbrokers Limited, acting as joint global co-ordinators and joint bookrunners. The consideration for the placing shares is payable in cash on usual settlement terms, and closing of the placing is expected to occur on a T+2 basis on 4 December 2018.