Posted by meb at June 30th, 2007

Albaraka Türk’s stocks were open to transaction on the İstanbul Stock Exchange (İMKB) as of Friday.
 The base value of the stocks was YTL 4.1 but then jumped to the ceiling price of YTL 4.52 on the national stock exchange. The buy and selling orders for the bank’s stocks were at a maximum level of 25,000 lots.The bank originally offered 20.22 percent of its shares to the public, worth YTL 54.5 million. The aggregate demand from both local and foreign investors, however, was 32 times higher than the amount of stocks offered. Despite upcoming elections and a prevalent indecisive mood stemming from the country’s tense political atmosphere, domestic and foreign investors rushed for the stocks and proposed to pay a total sum of YTL 7.1 billion for the shares.

The bank earned a total of YTL 233.45 million from the IPO.

source: Today’s Zaman

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