Turkish ECM reopens at last with $145m Akbank trade

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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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