10/7/2009

Foreign investors eager for Turkish public offerings

Hurriyet Daily News – “Foreign and domestic investors are awaiting initial public offerings of large Turkish companies”, said Huseyin Erkan, President of the Istanbul Stock Exchange (IMKB). “It is the perfect time for initial public offerings. The Privatization Administration should definitely consider making an initial public offering”, said Erkan. It is appealing for foreign investors that Turkey has managed the crisis well and performed admirably, he emphasized. “If large companies are offered to the public now, I expect the demand to be high. An initial public offering for one or two medium-size or large-scale companies may take place through the end of the year. The significant initial public offerings are likely to take place in 2010.” Erkan also said IMKB will launch an initial public offering campaign this month with the Union of Chambers and Commodity Exchanges of Turkey (TOBB). The meetings will be held in the chambers of various cities to supply information, he said, adding that intermediaries, corporate investors and consultancy companies will attend the meetings. The companies will also have an opportunity to meet directly with investors.