Monday, May 7, 2007

Turkey Sells Halkbank Stake for $1.9 Billion as Investors Brave Politics

(Bloomberg) -- Turkey raised $1.9 billion, matching its biggest-ever initial public offering, by selling shares in state- run lender Turkiye Halk Bankasi AS, a sign of investor confidence after last week's dispute between the military and government.

The government sold shares in the Ankara-based bank at 8 liras apiece, the upper limit of the offer range, NTV television reported today. Investors bid for 25 percent of Halkbank last week even after the government called early elections.


Read more at Bloomberg Emerging Markets News

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