12/3/2010

High demand shows robustness of Istanbul bourse

Hurriyet Daily News - The shares of Emlak Konut Real Estate Investment Trust (REIT), a state-run property developer, and catering firm Do&Co, have started trading on the Istanbul Stock Exchange (ISE), with their executives ringing the opening bell together with ISE Chairman Huseyin Erkan.

“Next year, we expect the total volume of initial public offerings (IPOs) to reach TRY 10 billion,” said Erkan.

“We observed huge demand from foreign investors for Emlak Konut shares,” Erkan noted. Emlak Konut is the biggest company to hold an IPO this year and also the country’s largest REIT. It offered 25 percent of its shares to the public. “Emlak Konut ranks among the top five IPOs in Turkey,” said Erkan.

The total IPO volume this year has reached TRY 3.5 billion, while the volume of corporate bond issuances reached TRY 1 billion.
turkey; Istanbul stock exchange; ise; Istanbul bourse; emlak konut; Do&Co; ipo