Turkey Wealth Fund sees Borsa Istanbul IPO in two years - CEO | Reuters
The CEO of Turkey Wealth Fund said on Tuesday he expects to launch an initial public offering for Borsa Istanbul in the next two years, a day after the fund sold 10% of its shares to the Qatar Investment Authority (QIA).
In an interview with broadcaster Bloomberg HT, Chief Executive Zafer Sonmez said the fund’s stake in the country’s exchange operator would not fall below 51%.
The implied value of Borsa Istanbul in the transaction with QIA was $2 billion, which Sonmez said was a very good value.
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