SPK: IPO is a better option for Halkbank
Posted by meb at January 23rd, 2007
Capital Markets Board (SPK) Vice President and acting President Turan Erol said the market was in prime condition for the soon-to-be-privatized Halkbank to be offered to the public.
“If it is priced reasonably, people will be able to buy its shares,” Erol said, emphasizing that selling Halkbank after offering it to the public would be more rational. He drew attention to the high demand witnessed in the public offerings of banks, saying that it was not an obligation to sell all of Halkbank’s shares. Stressing that offering a certain portion of the bank’s shares, however small they may be, to people meant that the bank would be placed under the inspection of the SPK, which valued transparency a great deal. Erol said that the demands of foreign investors were mostly oriented toward publicly-held companies. He underlined that opening a small portion of Halkbank to the public would mean that the value of the rest of the shares would increase. The current number of the companies quoted in the stock market is 604, Erol recalled, adding that they wanted 1,000 to 1,500 companies, thereby increasing growth from 5 percent to 7-8 percent. Erol said that opening as many companies to the public as possible was essential in terms of economic growth and transparency.
source: www.todayszaman.com
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