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Turkey to sell up to 42.75% of Borsa Istanbul in IPO

Author Yurkie Ali
Turkey to sell up to 42.75% of Borsa Istanbul in IPO

ISTANBUL (Turkey), November 14 (SeeNews) – The Turkish government said on Friday it will sell up to 42.75% of Borsa Istanbul in a public offering by the end of 2015.

The Treasury holds a 49% stake in Borsa Istanbul. Borsa Istanbul itself owns 36.6%, Nasdaq OMX holds 5.0%, the Turkish Capital Markets Association (TSPB) owns 1.30% and other shareholders hold the remaining 8.10% of the bourse’s stock.

The Turkish Council of Minister announced in the Friday issue of the country’s official gazette that it resolved on September 1 to put into effect the IPO decision regarding Borsa Istanbul.

The Treasury will determine the exact size of the stake to be offered and may extend the IPO process by up to a year, whereas Borsa Istanbul will decide about the timing and other details regarding the public offering of Borsa Istanbul shares.

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