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October 2019
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Year Book
2019

July

On 12 July 2019, Fitch Ratings has downgraded Turkey's Long-Term Foreign-Currency Issuer Default Rating to 'BB-' from 'BB' with a Negative Outlook. 

June

On 14th June, 2019, International credit rating agency Moody’s downgraded Turkey’s credit rating to “Ba3” from “Ba1”

2018

August

On 17th August, 2018, International credit rating agency Moody’s downgraded Turkey’s credit rating to “Ba3” from “Ba2” with “negative” outlook and the rating agency S&P downgraded the rating by one notch to B+ from BB- and kept Turkey's outlook at stable

July

On 13th March, 2018, International credit rating agency Fitch  downgraded Turkey’s credit rating to “BB+” from “BB-” with “negative” outlook.

Turkey's credit rating  report card:

June

Two Companies in Turkey win Extel Investor Relations Award 

The result of Extel’s “Best Practices in Investor Relations 2018” survey was announced. According to result of the survey, in which leading brands operating in different sectors from Europe and Turkey participate, in Turkey rankings, Akbank and TAV Airports Holding win awards of best practices in Investor Relations. 

Extel, the leading source of Pan-European opinions amongst the investment community today announced the results of the 45th annual Extel survey. The pan-European survey highlights achievement across the buy-side, sell-side and corporate communities.This year the leading pan-European survey received votes from over 2600 fund managers, 240 brokerage firms and over 1100 quoted companies worldwide, with a total of 11333 professionals taking part.

According to survey:

  • Best Corporate for IR in Turkey: Akbank
  • Best IR Professional in Turkey: Ebru Güvenir, Akbank
  • Best CFO for IR in Turkey:  Burcu Geris, TAV Airports Holding
  • Best CEO for IR in Turkey: Hakan Binbasgil, Akbank

TÜYİD Chairperson and TAV Airports Holding Co. Investor Relations Director Nursel İlgen, CFA made a statement about the rankings: “The investor relations role and profession, which may be considered a fairly new profession, has transformed itself into a global profession and a strategic management responsibility. This is happening in an environment where the information is moving rapidly and where market pricing is carried out in a high-speed market that includes algorithmic solutions. I congratulate all ranked IROs for their contribution to development of our profession and capital markets. Hereby, I would like to emphasize the necessity to invest in investor relations today where transparency and accountability are so important in Capital Markets. As Turkish IR Society, we will continue to award the best practices at our Summit which will be held in 12th December 2018.”

David Enticknap, Managing Director & Head of Extel said: “Extel 2018 presented unique challenges, set against dual headwinds of regulatory change and a contracting industry. MiFID II has increased transparency between sell-side firms and their buy-side clients; but pressure to increase performance and reduce budgets makes identifying excellence more valuable than ever before. These trends, coupled with improvements made to our service, have driven increased demand for a different approach to understanding what clients really value.

May
  • The IPO of Formet Çelik Kapı Sanayi ve Ticaret A.Ş.  was completed on May 14 - 15, 2018 and Metro Yatırım was the consortium leader in the IPO. The shares of the company commenced to be traded in group A and BIST MAIN on May 22, 2018 at TL 7.33  per share and with ticker code “FORMT”. The company offered a part of their shares representing 42 percent of the current capital to the public. The size of IPO was TL 53.5 million and the company’s market capitalization was realized at TL 126.7 million. According to the result of IPO, share allocations as follows:  Domestic Institutional Investors 73.29% and Domestic Individual Investors 26.71%.

  • The IPO of Şok Marketler Ticaret A.Ş. was completed on May 8-11, 2018 and Garanti Yatırım was the consortium leader, Yapı Kredi Yatırım was the co-leader in the IPO. The shares of the company commenced to be traded in group A and BIST MAIN on May 18, 2018 at TL 10.5 per share and with ticker code “SOKM.E”. The company offered a part of their shares representing 37.8 percent of the current capital to the public. The size of IPO was TL 2 billion 294 million and the company’s market capitalization was realized at TL 6 billion 74 million. According to the result of IPO, share allocations as follows: Foreign Institutional Investors 85%, Domestic Individual Investors 7.5% and Domestic Institutional Investors 7.5%. Shares were allocated among large foreign investors such as UK based Genesis Investment Management (15.60%), UK based European Bank for Reconstruction&Development (15.54%), USA based Neuberger & Berman (P) (9.15%) and other UK Based fund management companies  GIC Private Limited (6.18%), Schroder Investment Management Ltd (5.49%), Blackrock AM UK London (5.30%)

  • The IPO of Kafein Yazılım Hizmetleri Ticaret A.Ş was completed on May 10 - 11, 2018 and Metro Yatırım was the consortium leader in the IPO. The shares of the company commenced to be traded in group A and BIST MAIN on May 16, 2018 at TL 4.45 per share and with ticker code "KFEIN.E". The company offered a part of their shares representing 38 percent of the current capital to the public. The size of IPO was TL 31 million and the company’s market capitalization was realized at TL 80 million 100 thousand. According to the result of IPO, share allocations as follows: Domestic Individual Investors 92.9% and Domestic Institutional Investors 7.1%.

  • On May 1, 2018, Standard & Poor's credit rating downgrades Turkey’s sovereign ratings to  “BB-“ from “BB” in foreign currency terms and “BB” from “BB+” in domestic currency terms. The agency set Turkey’s outlook as stable. 

Turkey's credit rating  report card:

March
  • On 7th March, 2018, International credit rating agency Moody’s downgraded Turkey’s credit rating to “Ba2” from “Ba1” with stable outlook.

Turkey's credit rating  report card:

February
  • The IPO of Enerjisa Enerji A.Ş. was completed on February 1-2, 2018 and Ak Yatırım was the consortium leader in the IPO.  The shares of the company commenced to be traded in group A and BIST STAR on February 8, 2018 at TL 6.25 per share and with ticker code “ENJSA.E”. The company offered a part of their shares representing 20 percent of the current capital to the public. The size of IPO was TL 1 billion 476 million and the company’s market capitalization was realized at TL 7 billion 380 million. According to the result of IPO, share allocations as follows: Foreign Institutional Investors 76.5%, Domestic Individual Investors 8.5% and Domestic Institutional Investors 15.0%. Shares were allocated among large foreign investors such as Blackrock (8.23%), Fidelity Management & Research (7.29%), and Moon Capital (5.64%).

  • The IPO of MLP Sağlık Hizmetleri A.Ş. which incorporates the brands of Liv Hospital, VM Medical Park was completed on February 1-2, 2018 and February 5-6, 2018 and Ak Yatırım was the consortium leader in the IPO. The shares of the company commenced to be traded in group A and BIST STAR on February 13, 2018 at TL 19.0 per share and with ticker code “MPARK.E”. The company offered a part of their shares representing 36.2 percent of the current capital to the public. The size of IPO was TL 1 billion 384 million and the company’s market capitalization was realized at TL 3 billion 827 million. According to the result of IPO, share allocations as follows: Foreign Institutional Investors 83.5%, Domestic Individual Investors 8.25% and Domestic Institutional Investors 8.25%. Shares were allocated among large foreign investors such as Singapore based Temasek Holdings Private Limited (15.71%), UK based Genesis Investment Management (11.62%), Charlemagne Capital Limited (10.26%), Carrhae Capital (8.29%), Alliance Bernstein (6.98%), USA based Goldman Sachs Asset Management (5.8%) and UAE based East Capital Asset Management (5.34%).
  • The IPO of Peker Gayri Menkul Yatırım Ortaklığı A.Ş., operating under Peker Holding, was completed on February 15-16, 2018 and Gedik Yatırım Menkul Değerler A.Ş was the consortium leader in the IPO.  The shares of the company commenced to be traded in BIST Collective and Structured Products Market on February 21, 2018 at TL 5.50 per share and with ticker code “PEKGY.E”. The company offered a part of their shares representing 32%  of the current capital to the public. The size of IPO was TL 52 million 800 thousand and the company’s market capitalization was realized at TL 165 million. According to the result of IPO, share allocations as follows: Foreign Institutional Investors 20%, Domestic Individual Investors 45% and Domestic Institutional Investors 35%.

January
  • The IPO of Trabzon Liman İşletmeciliği A.Ş was completed on January 18-19, 2018 and Deniz Yatırım was the consortium leader in the IPO. The shares of the company commenced to be traded in group A and BIST MAIN on January 24, 2018 at TL 15.5  per share and with ticker code “TLMAN.E”. The company offered a part of their shares representing 30 percent of the current capital to the public. The size of IPO was TL 97.7 million and the company’s market capitalization was realized at TL 325.7 million. According to the result of IPO, share allocations as follows:  Domestic Individual Investors 85.0% and Domestic Institutional Investors 15.0%.

2017

June
  • The IPO of Mavi Giyim Sanayi ve TİCARET A.Ş was completed on June 8-9, 2017 and İş Yatırım was the consortium leader in the IPO. The shares of the company commenced to be traded in group A and BIST STAR on June 15, 2017 at TL 43.0 per share and with ticker code “MAVI.E”. The company offered a part of their shares representing 55 percent of the current capital to the public. The size of IPO was TL 1 billion 174 million and the company’s market capitalization was realized at TL 2.14 billion. According to the result of IPO, share allocations as follows: Foreign Institutional Investors %73.9, Domestic Individual Investors %7.2 and Domestic Institutional Investors %18.9. Shares were allocated among large foreign investors such as Temasek Holdings (Private) Limited (10.11%), Templeton Inv Counsel LLC (%10.11), Universities Superannuation Scheme Ltd (%8.84), Carrhae Capital LLP (%7.58), Charlemagne Capital (Iom) Ltd (%7.58), Neuberger Berman Inv Advisers (%7.58), Abu Dhabi Inv Authority (Adia)(%6.53). 

May
  • The sale of Sabancı Holding shares with a nominal value of TL 100 million has been completed by Sabancı Family. From some of the Sabancı Family members sold their shares with a price TL 11.1 by 4% discounts at 24th of May. Sold shares were allocated amongst 21 foreign institutional investors. 
  • Following the material event disclosures on 25th of May, the sale of 4.22% of Koç Holding shares (with a nominal value of TL 107 million) from some of the Koç family members (Mustafa Rahmi Koç, Suna Kıraç, Mehmet Ömer Koç, Yıldırım Ali Koç and successors of Mustafa Vehbi Koç (Caroline Nicole Koç)) amounting to 15.42% in total has been completed via an accelerated book building to international institutional investors. The sale price was TL 15.87 for a share with TL 1 nominal value. Consequently, Koç Family and the companies controlled by Koç Family members hold 64.29% of Koç Holding shares and the free float rate increased to 26.46%.

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