Turkish ECM reopens at last with $145m Akbank trade

By Sam Kerr
15 Jan 2020

Turkey's primary equity capital markets opened for the first time since 2018 on Wednesday as an undisclosed group of shareholders set out to sell 1.9% of Akbank.

JP Morgan was the sole bookrunner on the transaction for 101.1m shares in Istanbul.

Books were covered and orders below TL8.45 a share risked missing out on allocations. The final price was a 3.9% discount to Wednesday's closing price. The final trade size was TL854.3m ($145m).

The sellers ...

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