Several medium-to-large sized companies have applied for listings on Istanbul’s stock exchange, signalling an end to a drought in initial public offerings since the start of the global crisis.
Hüseyin Erkan, the exchange’s chairman, told the FT that one company that could list by the end of the year was a major gas distributor not yet privatised. A banking source said Istanbul’s authorities were about to mandate advisers to privatise Igdas, Turkey’s biggest gas company with 27 per cent of all retail gas sales.
