PTT’s subsidiary PttAVM has applied to the Capital Markets Board to offer 15 percent of its shares to the public.
PTT was transferred to the Turkey Wealth Fund.
PTT General Manager Hakan Gülten announced plans to offer 15 percent of PttAVM, a subsidiary of PTT, to the public. Gülten stated that the necessary application was made to the Capital Markets Board (CMB).
Gülten, who announced the public offering decision of PTT’s subsidiary PttAVM in a television program, said, “We plan to offer PttAVM to the public and direct the income we will generate to the investments we will make in warehousing and PttAVM. IPO studies have been going on for about two years and we will make our decision in the coming months. We are currently in negotiations with the CMB and have completed our application. We aim to offer 15 percent of PttAVM to the public. Since PTT is a company owned by the Wealth Fund, we will act together with the Wealth Fund and decide on this issue.”
Stating that PttAVM was established in 2011 as Turkey’s first and only marketplace, Gülten said, “Currently, the number of our products and the number of our members are expressed in millions. We are trying to deliver the products of sellers in Turkey worldwide. Our tradesmen, who once reached a hundred people, now have the potential to attract the attention of billions of people. We have developed this with the investments we made in PttAVM. We currently have an e-commerce site in Qatar with the country’s Postal Administration. Not only limited to Qatar, we have attracted the attention of all Postal Administrations around the world.