6/16/2008

Kuwaitis interested in Halkbank sale

Reuters - Kuwaiti investors, who bought a large number of shares in Turkey's Halkbank in an initial public offering last year, are interested buying more stock when the state further cuts its stake, Turkish Finance Minister Kemal Unakitan told reporters. A 25 percent stake in Halkbank was listed on the Istanbul stock exchange in 2007 in what was Turkey's largest ever initial public offering and a further selloff is planned for later this year. Unakitan gave no further information. The Kuwait Invesmtment Authority, a major Gulf investor, bought 11 percent of Halkbank's initial offering to give it a 2.7 percent stake in the bank.