Turkey's biggest shipper UN Ro-Ro is said to plan IPO this year

[ISTANBUL] Turkey's biggest operator of roll-on, roll-off transport vessels is planning an initial public offering this year, according to three people with knowledge of the plans.

Actera Group and Esas Holding AS, the owners of UN Ro-Ro Isletmeleri AS, are likely to work with Citigroup Inc. and Morgan Stanley on the deal, said the people, asking not to be identified because the discussions are private. They're also talking to local firms Is Yatirim Menkul Degerler AS and Garanti Yatirim Menkul Kiymetler AS, the people said.

Actera, Esas and UN Ro-Ro didn't respond to emails seeking comment. Citigroup, Morgan Stanley, Is Yatirim and Garanti Yatirim all declined to comment.

Turkish companies are turning to share sales as demand for emerging-market assets rises in what could be the best year ever for offerings in the country. About a dozen IPOs are in the works that could raise US$3 billion to US$4 billion in 2018, according to Istanbul-based brokerages Unlu & Co. and Is Investment, surpassing the record set in 2007.

Turkish buyout firms Actera and Esas bought 97.6 per cent of UN Ro-Ro from KKR & Co. in 2014 for 700 million euros (S$1148. 2), 50 million euros more than the company's net debt at the time. The company offers services from Turkey to ports in Italy and France and central European destinations through land connections, according to its website.

BLOOMBERG