Turk Telekom's IPO is awarded the "Best Privatization in CEE"

In the March edition “EMEAFINANCE” magazine, the IPO of Turk Telekom was mentioned as the only IPO in 2008 and the largest ever IPO in Turkey, with a total issue size of US$1.9 billion. Furthermore, Turk Telekom’s IPO was the third largest IPO in EMEA, and largest telecom IPO globally in the last four years.

Run by the Privatization Administration and its financial advisors; Deutsche Bank and Garanti Securities, %15 of the Turk Telekom shares were offered to the public.

During the IPO, 35% of the total shares offered were allocated for the domestic investors, composed of Retail Investors, Employees, High Networth Investors, and Domestic Institutional Investors and the remaining 65% of the shares were allocated for the International Institutional Investors. With the structure designed by Garanti Securities, the domestic tranche had been completed with a 4.7 times oversubscription. The final allocation to the domestic investors had been increased to 40% to meet some of the excessive demand.