LONDON/ISTANBUL Nov 16 The Turkish government
has received orders for all the shares it is offering in lender
Halkbank, two sources close to the deal said on
The government is hoping the sale of 20.8 percent of the
lender will help lift what have been disappointing privatisation
receipts in recent years, with tough funding conditions causing
the postponement of several previous tenders.
"(Order) books are covered," said one of the sources, adding
that demand had been better than expected.
Earlier this week Halkbank set a price range of 13.80-15.90
lira per share for the sale of 299 million shares, meaning it
should raise 4.1-4.8 billion lira ($2.3-$2.7 billion).
That would make it the third biggest share sale in Europe so
far this year after Italian lender UniCredit's $9.6
billion rights issue in January and Russia's sale of a $5
billion stake in Sberbank in September, according to
Thomson Reuters data.
Order books on the secondary public offering, which opened
on Wednesday, are due to close later on Friday. The government
expected to announce the final price on Monday.
($1 = 1.8010 Turkish liras)
(Reporting by Kylie MacLellan and Evren Ballim)