De Facto fashion retailer adds to Turkish I.P.O. revival

The Turkish fashion retailer De Facto (439 stores in 19 countries including 109 international units in 2016) has appointed Citigroup and HSBC to prepare an Initial Public Offering (I.P.O) for Istanbul’s Stock Exchange early in 2018. In 2017, De Facto aims to open more than 100 stores in Turkey, Russia, Kazakhstan, Ukraine, Middle East and North Africa, and hopes raise US$350 million from this public offering.
As political uncertainty decreases and the World Bank expects Turkish G.D.