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Bizim starts $270m sale

Turkish cash-and-carry retailer Bizim Toptan has opened books on a Tl315m-Tl420m ($200m-$270m) Istanbul IPO with a price range that represents a 21% discount to its closest comparable at the bottom end and a 6% premium at the top. The firm began its management roadshow on Monday, holding a well-attended group lunch.

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