22 companies go public in first half

ISTANBUL

Some 22 companies have launched initial public offerings (IPO) in the first half of 2023, data from the Central Securities Depository (MKK) have shown.

Those companies raised a total of 26.4 billion Turkish Liras from the IPOs in the January-June period, according to MKK.

In the whole of 2022, 40 companies went public, raising 19.3 billion liras through IPOs.

In the first six months of 2023, 476 companies issued debt with a total nominal value of 211 billion liras. Some 115 of those debt issuing firms were real sector companies, said MKK.

Separate data from the Turkish Capital Markets Association (TSPB), showed that the size of local investors’ assets in the equity market increased by 156 percent in June from a year ago to touch 1.94 trillion liras.

The increase in resident investors’ holding of equities in the first half of the year compared with the January-June period of 2022 was at a moderate 5.5 percent, said the TSPB, linking the limited rise to the uncertainties related to the May elections.

On an annual basis, return on equities were above inflation, however, returns on equities remained below inflation in the first half this year, it said.

The number of investors with a balance in Borsa Istanbul increased by 689,000 from the end of 2022 to 4.5 million, according to the association.

The number of active investors, who made at least one transaction, in the equity market grew by 620,000 from a year to 3.77 million as of June.

Total financial assets of resident investors increased by 67 percent year-on-year to around 18 trillion liras, while their Eurobond assets rose by 43.2 percent to 1.23 trillion liras.

Non-resident investors’ financial assets stood at 1.59 trillion liras as of June, increasing by 100 percent on an annual basis. They increased their Turkish lira deposit accounts by 57.4 percent to 176 billion liras.

The investor risk appetite index rose by 5.61 percent from a week ago and increased by 15.46 percent from a year ago to 65 as of July 14, according to MKK.

The size of equity crowdfunding portfolio of 24,671 investors amounted to 482.5 billion liras.