George Soros, the financier, is expected to cash in on the floatation of Efes, the Turkish brewer, when it floats on the London Stock Exchange, according to newspaper reports.

The brewer aims to raise up to $165m (£90m) and it has set an indcative price range of $20.75 - $23.75 a share, valuing the company at $614m - $703m.

Efes is majority-owned by beer and soft drinks maker Anadolu Efes, with an 85% stake. It is not selling any shares although its holding will be reduced to 70%.

Soros Capital is one of a number of minority shareholders with 7% in Netherlands-based Efes Breweries International.