Koc Holding announced that its Yapi Kredi share, which corresponds to 6.8% of Yapi Kredi’s capital, was sold to institutional investors off the stock market for a price of ₺6.8 billion as a result of the accelerated book-building process.
In the statement made by Koc Holding, it has been reported that the holding successfully completed the sale of its Yapi Kredi share, which corresponds to 6.8% of Yapi Kredi’s capital, to institutional investors off the stock market for a price of ₺6.8 billion (approximately $250 million) as a result of the accelerated book building process.
The statement noted:
“In the transaction, which received more than 5 times requests from a large number of international funds, about 40 international institutional investors were allocated and there are long-term investors among them. The successful transaction with the highest amount in recent years is an indicator of the trust in our country, our community and our bank. As a result of the transaction carried out for the purpose of portfolio optimization of our company, we will pursue opportunities that will create long-term value for all our stakeholders, with our liquidity getting stronger in the coming period. After the transaction, Yapi Kredi’s free float ratio increased to approximately 38.83%, thereby diversifying the investor base and increasing its share depth. As Koc Group, we believe in Yapi Kredi, the banking sector and the potential of our country, and with our 61.17% shareholding, our main shareholding in Yapi Kredi will continue.”
Source: AA / Prepared by Irem Yildiz
