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Scandals fraud and losses in the financial markets

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Sovereign wealth funds on euromoney.com

Sovereign wealth funds on euromoney.com

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Tuesday, May 6, 2008

Printing firm Koza Davetiye plans USD 150mn investment in three sectors.





Printing firm Koza Davetiye plans USD 150mn investment in three sectors. Commercial printing company Koza Davetiye Magaza Isletmeleri plans around USD 150mn investment in energy, media, and mining sectors. Koza Davetiye issued a statement to the Istanbul Stock Exchange and announced that the said investments will be financed from the company’s capital equity through capital increase in cash. Koza Davetiye board decided to lift the company’s capital ceiling to TRY 200mn (around EUR 100mn) from the existing TRY 64.7mn and applied to the capital markets board to this end. Koza Davetiye was mainly involved in printing business however the company stepped into media sector when it bought the publishing rights of daily Bugun in 2005. The company also has a mining subsidiary, namely Koza Altin Isletmeleri, which operates 3 mining sites in Turkey . Koza Davetiye plans to list Koza Altin on the Istanbul Stock Exchange and last month Koza Davetiye informed that it waited for the right market conditions to set the timing for the IPO of Koza Altin. Koza Davetiye holds a 59.4% stake in Koza Altin and plans to list at least 43%, or up to 49.5% with an over allotment option, of Koza Altin shares. Koza Davetiye is already an Istanbul Stock Exchange listed company.


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