Shares in Turkish company Katmerciler go on sale in November as the vehicle equipment manufacturer looks to fund expansion in the Middle East and Africa.
According to Turkish analysts, the company plans to invest $3 million in building and machinery construction assuming that an IPO involving 24% of its shares is successful.
Katmerciler exports on-board equipment to Asia, Europe, Africa and the Middle East. The company, has grown by 154% in two years, and increased its net sales by 38% in 2008 and 85% last year. The company’s net sales reached 66.2 million liras ($46 million) last year.