Is Private Equity (ISGSY)

Business description

Is Private Equity (ISGSY) is a listed private equity fund, which invests directly in Turkey's growing mid-cap private companies.

Stock data

Market cap.TRY123.2m
Last close1.65TRY
High / Low (52 weeks)1.7TRY / 1.3TRY
Stock market listingBIST
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

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Investment summary

In the year to 31 December 2014 Is private Equity's (ISGSY) NAV increased by 1% and it paid a dividend equivalent to 7.9% of the current share price. Financial income was largely offset by a small fair value decline in its private equity investments and general administrative expenses and the dividend payment. Its 40% discount to NAV is in line with its long-term average and gives investors some protection from the heightened uncertainty surrounding Turkey and investments in emerging markets. There were no disposals made in 2014 as local and geopolitical uncertainties combined to make such actions problematic. However, one significant new investment was made in Q414, as ISGSY has paid TRY17.5m for a 28.5% stake in Radore, which provides data centre services in Turkey.

Last updated on 04/04/2017

Industry outlook

The role that private equity firms like ISGSY can play in the development of Turkey remains considerable. However, progress on portfolio disposals is likely to suffer from market uncertainties. These include the rate at which interest rates in the US are increased, the political instability in its neighbours in Ukraine, Iraq and Syria, as well as local domestic economic and political uncertainties arising from the desire to lower inflation without suppressing economic growth.

Last updated on 04/04/2017

Key management

Serdar Gencer, Chairman
Murat Özgen, CEO
Banu Gul, FD

Company address

Kuleleri Kule:2
Kat:8 Levent
Istanbul
34330
Turkey
+90 0212 325 17 44
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