Local companies being offered to foreign companies

Borsa Istanbul Chairman Himmet Karadağ, "2018 year, very qualified, we started with the public offering of our large companies. Some of them came to domestic investors, demand 7-8 times. Foreign investors generally attract interest in others. Foreign investors bought more than 80 percent of the shares of Turkish companies in the public offering, "he said.

Himmet Karadağ, the Chairman of the Board of Directors of Borsa Istanbul, referred to public offerings made in the first quarter of the year. Montenegro said, "We started in 2018 with a very qualified public offering of our big companies. Some of them came to domestic investors, demand 7-8 times. Foreign investors generally attract interest in others. Foreign investors bought more than 80 percent of the shares of Turkish companies in the public offering" he said.

COMPANIES RECEIVE PUBLIC OPPORTUNITY TO EXTERNAL BORROWING BUT ...

Karadağ, pointing to the negative evaluation of rating agencies, said stated that the capital market in Turkey is still attractive, "We bring over 47 percent off the stock market last year. Now, on the one hand, you will look at the reports, rating agencies will 'invest'. On the other side, your investing friend will win 47 percent. Truths, tried to be produced, negatife tried to translate the perceptions race, of course, truth always goes forward. This year our company financial statements in our micro is very positive. So in many sectors except exceptional sectors, companies that can not compare with the previous year explain very good financial statements."

Reminding that they changed the parameters of the public offering and quotation last year and their directions were complex, Himmet Karadağ said:

"Previously, we had different conditions for the sector, such as the '2 years net profits that we passed'. We have revised all of those conditions in a facilitating manner for public offering companies. Especially, we made public offerings very easy for the company. Why did we do that? Firms' foreign exchange and exchange rate risks were not manageable in some sectors. The fluctuations in the currency were affecting the sustainability of our companies very badly. Thus, when we see such terrific examples, we have seen that firm values ​​move up very seriously when firm values ​​before the public offering are negatif, foreign resources and exchange rate risk are manageable. This move will continue."

Himmet Karadağ, 2018, the number of public offerings will be much more emphasized, "2018, seriously will be our initial year in the public offering. We have 5 years, 6 years, 10 years" he said.