Turksat IPO in 2016
December 9, 2015
By Chris Forrester
Ankara-based satellite operator Turksat is to mount an IPO next year provided Turkey’s government approves a change in local regulations to permit the move.
Tuirksat’s CEO Ensar Gul said he expects the new Justice and Development Party government, formed by Prime Minister Ahmet Davutoglu last month, to change the company’s articles of association to allow the sale.
Turksat was spun off from Turk Telekom some 10n years ago. It currently operates 4 satellites and has plans to launch another pair in 2018, and another in 2020. By 2023 it says it wants to be operating 10 satellites.
Turksat also operates the nation’s cable TV operation with 1.2 million subscribers.