MCI.EuroVentures sold a block of shares of Index

MCI.EuroVentures sold a block of shares of Index

7% of shares in Turkish company – Index – was sold by MCI.EuroVentures for over 36 mln PLN (the average selling price was 9,7 TRY). In the second half of 2018 this MCI Capital Fund plans on continuing to decrease their involvement in the company.
This year all the funds of MCI Group generated nearly 130 mln PLN.

After conducting the transaction, MCI.EuroVentures still remains the second largest stock market investor of Index, owning around 19% of its shares and keeps its corporate rights, including the one to nominate the representatives in the supervisory board.

‘These transactions will allow to increase the liquidity of shares, therefore further increasing the share price, which are estimated by the biggest investment banks in Turkey at 14-15 TRY in the next 12 months. Due to this, the final investment exit should bring at least a twofold value of return’ – says Maciej Kowalski, Managing Partner of MCI.EuroVentures.

MCI.EuroVentures invested in Index for the first time in 2013, buying a share package (3,4 TRY per one) and constantly increasing its involvement in the following years. Today the shares on the stock are worth around 10,5 TRY and the EBTIDA of the company for the 2017 is expected to reach 116 mln TRY, while the profits should be around 99 mln TRY.

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