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.