In Borsa Istanbul, which was flooded with investors due to low interest rates in the pre-election period and saw IPO records in parallel with this, the wind reversed with the start of interest rate hikes.
No new companies will be seen on the stock exchange for a while. While January is expected to pass without the approval of new public offerings, the Capital Markets Board has not approved any new public offerings since December 7. Capital market experts stated that low liquidity and the decline in demand caused a break in public offerings.
Capital market experts do not expect any new IPO approvals in January. On January 11, the Central Bank’s investor meeting in New York and the credit rating agency Moody’s review on January 12 will also determine the course of IPOs in the coming period.
In 2023, 54 companies entered the stock exchange with IPOs and the total size of public offerings was TRY 79.18 million.
Number of investors doubled in 2023
According to Central Registry Agency data, the number of investors in the stock market increased from 3 million 783 thousand 487 at the end of 2022 to 7 million 653 thousand 30 at the end of 2023. The number of investors increased by 102.3 percent in one year. On the other hand, the number of investors, which peaked on December 13 with 8.6 million people, decreased by 950 thousand people in the last two weeks. The last two weeks of the year were also a period of sharp sales for Borsa Istanbul indices.
Market experts have often pointed to both the rise in standard TL deposit rates and the lack of liquidity due to successive IPOs and the lack of foreign investors as factors in these declines. While the trading volume in the stock market has also fallen below TRY 100 billion in recent weeks, rapidly rising loan rates have also caused investors to stay away from credit transactions. Periods of decline also resulted in an increase in calls for collateral calls.
