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Huge demand for Turk Telekom’s 15 percent stake
The Treasury-owned portion of Turk Telekom that was put up in an initial public offering in Turkey has drawn 6.4 times more demand than the shares available.
The government decided to put 15 percent of the 45 percent portion of Turk Telekom shares which belong to the state up for an initial public offering. This 15 percent share is estimated to be worth around YTL 525 million.
The huge demand for the shares is an indicator of the direction that not only this sector but the nation as a whole, is headed. Both local and foreign investors have shown interest in investing in the sector.
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