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JP MORGAN CHASE & COMPANY (JPM)
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Turkey's Actera plans IPO for auto firm Actera, has mandated JP Morgan - sources

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02/13/2018 | 01:53pm CEST

ISTANBUL/LONDON (Reuters) - Turkish private equity fund Actera is planning an initial public offering for auto parts maker Standard Profil and has mandated JP Morgan for a listing that may take place in London, according to people familiar with the matter.

Actera is considering a flotation for the unit, which it acquired in 2013, three sources said, declining to be identified because the information is not yet public.

JP Morgan has been mandated and a London listing is being considered, two of the people said. One of them said the IPO could happen in May.

"JP Morgan was mandated for the initial public offering," one of the sources said.

Actera was not immediately available for comment. JP Morgan and Standard Profil both declined to comment.

Standard Profil, which manufactures sealing parts for vehicles, had revenue of 390 million euros (346.74 million pounds) in 2016, according to its website. The company supplies products to global automakers including Toyota (>> Toyota Motor Corp), General Motors (>> General Motors Corporation) and Renault (>> Renault).

In addition to Turkey, the company has production facilities in Spain, Bulgaria, Morocco, China, South Africa and Mexico.

The deal would mark the latest in a wave of Turkish companies to list this year.

Separately, sources told Reuters on Monday that four Turkish firms - discount grocer Sok, clothing retailer DeFacto, high-end retailer Beymen and logistics company U.N. Ro-Ro - are all expected to hold initial public offerings in May.

Turkish firms have been taking advantage of stock prices at record levels, as well as robust international demand for Turkish listings.

(Writing by Ezgi Erkoyun; Editing David Dolan)

By Ebru Tuncay, Can Sezer and Dasha Afanasieva

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Financials ($)
Sales 2018 110 B
EBIT 2018 46 100 M
Net income 2018 30 767 M
Debt 2018 -
Yield 2018 2,22%
P/E ratio 2018 12,40
P/E ratio 2019 11,48
Capi. / Sales 2018 3,43x
Capi. / Sales 2019 3,29x
Capitalization 378 B
Chart JP MORGAN CHASE & COMPANY
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JP Morgan Chase & Company Technical Analysis Chart | JPM | US46625H1005 | 4-Traders
Technical analysis trends JP MORGAN CHASE & COMPANY
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 120 $
Spread / Average Target 7,3%
EPS Revisions
Managers
NameTitle
James Dimon Chairman & Chief Executive Officer
Gordon A. Smith Co-President & Co-Chief Operating Officer
Daniel E. Pinto Co-President & Co-Chief Operating Officer
Marianne Lake Chief Financial Officer & Executive Vice President
Lori A. Beer Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
JP MORGAN CHASE & COMPANY4.87%378 373
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HSBC HOLDINGS-3.65%198 231