By Gokhan Ergocun
ISTANBUL (AA) - MNG Airlines, a Turkish air cargo firm, will go public on the New York Stock Exchange (NYSE) through a business combination with Golden Falcon Acquisition Corporation.
In a statement issued on Wednesday, the cargo firm said: "The transaction is expected to have a pro-forma enterprise value of $676 million, assuming minimum gross transaction proceeds of $30 million."
The transaction is expected to close in the first half of the next year, after which the firm will be listed on the NYSE under the new ticker symbol MNGA, the statement said.
The airline is serving more than 15,000 corporate customers across 41 countries through over 3,500 flights annually, it added.
The statement said that the firm's revenues in the third quarter of this year grew by 39% to $353 million on a yearly basis while its net income reached $61 million.