The initial public offering (IPO) of the Medical Park Healthcare Services Inc. hospital chain, owned by one of Turkey's leading private equity firms, Turkven, is expected to generate TL 500 million ($133.1 million) in revenue from the sale of B-class shares, according to a report in Reuters.

The total free float ratio after the IPO will be 45 percent. The company will use its income generated from the public offering to reduce its foreign currency debts, the report said.

A document released by a foreign brokerage agency in charge of the public offering says that the amount of additional sales has not yet been confirmed, but that the initial sales could reach 15 percent and that the total free float ratio after the public offering will be 45 percent.

Global book building in the IPO will be led by JP Morgan, Goldman Sachs, HSBC and Bank of America Merrill Lynch. The book building and coordination from Turkey will also be conducted by Ak Investment.

Meanwhile, according to a different source, the company is eyeing a Borsa Istanbul IPO in the first half of 2018.

Turkven made its first investment in Medical Park Healthcare Services in 2014.

The group runs hospitals under the names Medical Park and Liv for patients with state or private health insurance.