Turkish aerospace company puts shares on sale
Azerbaijan, Baku, 27 Feb. / Trend, A. Taghiyeva /
Turkey's state-owned Tusas Aerospace Industries (TUSAŞ) intends to sell part of its shares, the company's general director Muharrem Dertkashly said, Sabah newspaper reported.
The company plans to sell a 20 percent stake. The sale of shares will begin in the second quarter of 2013.
According to Dertkashly, the company estimates the volume of shares at $ 7 billion. Financial organization İş Yatırım acts as the intermediary in the sale of shares to Turkish citizens.
The intermediary in the sale of shares of TUSAŞ to foreign nationals is JP Morgan, Dertkashly said.
TUSAŞ was established in May 1985 with the help of foreign investment. In 2005, the company purchased shares owned by Lockheed Martin Turkey (42 percent) and General Electric International (seven percent).
TUSAŞ builds parts for F-16 fighter jets, passenger Airbus A380, military aircrafts, such as Airbus A400M. Since last year, the company also began producing diffuser for A350 Airbus.