Companies raise 56 bln liras in more than 30 IPOs this year

ISTANBUL

A total of 31 initial public offerings have been launched as of the end of October, raising 55.9 billion Turkish Liras ($1.63 billion), according to İbrahim Ömer Gönül, the head of the Capital Markets Board (SPK).

“In 2023, 54 companies went public with funds raised totaling 79.3 billion liras. Last year, Türkiye ranked 10th in the world and first in Europe in terms of the size of funds raised from public offerings,” he said.

More than 36 million people are directly or indirectly investors in capital markets through bonds, bills, Private Pension System and other instruments, including 7 million in equities and 5.4 million in mutual funds, Gönül furthered.

Companies issued debt instruments and lease certificates worth a total of 889 billion liras in 2023, according to Gönül.

“As of the end of October, debt instruments and lease certificates worth 1.6 trillion billion lira have been issued…The size of venture capital investment funds rose to 192.3 billion liras while the total assets of venture capital investment trusts reached 41.1 billion liras,” he said.

The amount of assets managed by securities investment funds stood at 3.7 trillion liras as of the end of October, Gönül said, noting that there are currently 692 companies registered with the Board.

Of these 570 companies are traded on the stock exchange, with a total market capitalization of 12.2 trillion liras, according to the board chair.