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ALIBABA GROUP HOLDING LIMITED

(BABA)
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Alibaba : Turkish e-commerce platform Trendyol in talks to raise $2bn investment

06/16/2021 | 11:14am EDT

Turkish e-commerce marketplace Trendyol, backed by Chinese internet giant Alibaba, is reportedly in discussions to raise $2bn from investors.

Trendyol is the largest e-commerce platform in Turkey. It has registered growth of around 20-fold in gross merchandise volume in the last three years, taking the volume to $10bn this year.

“Trendyol is in discussions to raise $2bn from global investors,” a source with knowledge of the matter told Reuters

SoftBank and private equity firm General Atlantic were involved in the talks for the investment, the news agency also reported the person and other sources as saying. 

The company was advised by Citi, the first source said, adding that the fundraising was expected to close by the end of this month.

“The fundraise is expected to close in June and aims to diversify the shareholding base prior to the company’s planned IPO in 2023,” they were also quoted as saying.

In April, Alibaba, which bought a majority stake in Trendyol in 2018, increased its stake to 86.5% in a capital increase, according to the country’s trade registry.

©2021 bne IntelliNews , source Magazine

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 5.34% 196.01 Delayed Quote.-15.78%
SOFTBANK GROUP CORP. -4.84% 6745 End-of-day quote.-16.29%
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Financials
Sales 2022 927 B 143 B 143 B
Net income 2022 133 B 20 507 M 20 507 M
Net cash 2022 459 B 70 963 M 70 963 M
P/E ratio 2022 28,3x
Yield 2022 -
Capitalization 3 458 B 533 B 534 B
EV / Sales 2022 3,24x
EV / Sales 2023 2,56x
Nbr of Employees 251 462
Free-Float 89,8%
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Alibaba Group Holding Limited Technical Analysis Chart | BABA | US01609W1027 | MarketScreener
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Mean consensus BUY
Number of Analysts 51
Last Close Price 1 272,20 CNY
Average target price 1 860,89 CNY
Spread / Average Target 46,3%
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Managers and Directors
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans President & Director
Wei Wu CFO, Director & Head-Strategic Investments
Li Cheng Chief Technology Officer
Chee Hwa Tung Independent Director
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