Turkish investment bank Iktisat Securities is leading the local initial public offering of the marketing arm of Galatasaray, the internationally-renowned Turkish football club, which is due in the first half of this year.

Iktisat valued the marketing arm of Galatasaray at between $150m (€158m) and $200m (€211m). The flotation will be for about 15% of the company and is planned to raise between $22.5m and $30.5m.