Turkey’s stock exchange, Borsa Istanbul, has left many countries behind by rising in the global ranking thanks to the accelerated initial public offerings (IPO) contrary to the worldwide contraction trend, according to a report by the UK-based Ernst & Young (EY).
Borsa Istanbul ranked 11th with the highest number of IPOs and 10th with the highest IPO volume globally.
With 52 IPOs and an IPO volume of USD 3bn this year, Turkey topped in Europe.
Compared with the U.S. and Asia-Pacific, IPOs with the highest return were in the EMEIA region, including Turkey.
Turkey has also been the stock market leader with the best performance in the region.
The stocks of the companies with IPO at Borsa Istanbul had a 100% positive return.
The report said Turkey’s IPO market has accelerated, with firms with limited new financing options willing to benefit from individual investors in new issuances.