GKC Partners has advised Hepsiburada.com on its USD 780 million IPO on Nasdaq. Morgan Stanley, JP Morgan Securities, Goldman Sachs, BofA Securities, and UBS Securities acted as the bookrunners. Paksoy advised the banks on Turkish law and Cleary Gottlieb Steen & Hamilton reportedly advised on US law.
Hepsiburada is a Turkish online shopping platform. According to GKC Partners, “this landmark transaction marks several market firsts: first IPO by a Turkish company on Nasdaq, largest Turkish tech IPO in history, and the largest Turkish IPO in over a decade. First-day market capitalization of HEPS reached USD 4 billion. The offering received a strong demand with the order book multiple times oversubscribed throughout the range from a diverse investor base.”
GKC Partners’ team included Partner Derin Altan, Associates Gokcen Durgut, Eren Ayanlar, Irem Kurkcu, Gozde Berkil, Ata Deniz, and Elif Ece Kuregibuyuk, Competition Advisor Sezin Elcin Cengiz, and Legal Interns Sehriban Unlu and Zeynep Ulasan.
Paksoy's team was led by Partner Omer Collak.