Market sees 22 IPOs so far in 2012

ISTANBUL - Anatolia News Agency

Twenty-two Turkish companies undertook initial public offerings (IPO) in the first eight months of the year, with a total sales volume of 470 million Turkish Liras, Capital Markets Board (SPK) officials told the Anatolia news agency.

The figure is expected to be higher than 30 by the end of the year, as a total of 27 IPO filings are currently being reviewed by the board.

There was only IPO in 2009, collecting 10.2 million liras. The following year the number of IPOs shot up to 22, with a combined sales volume of 3.13 billion liras. Last year the number of companies undertaking IPOs was 27, generating 1.3 billion liras in proceeds.

The Istanbul Stock Exchange (İMKB) approved 13 companies to be listed on the bourse between January and August this year, and is reviewing 11 more applications.

The total volume of applications for debt issuance received by the SPK in the same period was 45.5 billion liras.