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Türk Telekom's shares sell out

While the world is on the verge of facing a crisis, Türk Telekom's shares have sold out. Both Turks and foreigners offered five times more the offering price.

Türk Telekom's public offering of 15% of shares was sold for $1.9 billion. Foreigners provided 150 million dollars in profit, while domestic investors will add 967 million dollars to the nation's cash register. The $1.9 billion public offering has now taken fifth place amongst the globe's biggest public offering. Domestic investors offered 4.7 times the offering price, while foreign investors offered 4.3 times the asking price.


yildiz

Türk Telekom's price drives investors crazy
 13.05.2008

The public offering of Türk Telekom, the low price of whic was already a debate, received five times more in demands. Shares were sold to all domestic investors who offered up to 10 thousand YTL for a share. Bigger investors were only able to acquire 6% of the shares offered.

The public offering of Türk Telekom, which was being criticized for the low selling price, received five times more in demands. Domestic investors offered 4.7 times more than the public offering price, while foreign investors offered 4.3 times more. In Türk Telekom's public offering this year of 15% of Telekom's shares a total of $1.9 billion will enter into the treasury. Small investors were also interested in the public offer; therefore, the demands of investors requesting shares for up to 10 thousand YTL were met. The share of domestic investors which used to be 35% has now risen to 40%. Big investors however, were only able to acquire 6% of the shares they requested.

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Türk Telekom's price drives investors crazy


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