Borsa Istanbul to boost ‘energy’
The country’s stock exchange market Borsa Istanbul’s ‘energy’ will be boosted with new companies. This week, three energy companies will carry out book building and the first gong will ring for Galata Wind Energy.
Aydem Renewables, an Aydem Energy subsidiary, Doganlar Holding’s subsidiary Biotrend Enerji and the Odas Group subsidiary Can2 Termik AS will conduct book building on April 19-22, April 19-21 and April 20-21, respectively.
Dogan Holding’s subsidiary Galata Wind Energy, one of the biggest public offerings of recent years, carried out book building last week and will ring the first gong on April 22. While 24.4% percent of the shares offered to the public were sold to foreign institutional investors, demand for the issued shares of Galata Wind Energy has been 6.7 times.
Meanwhile, the banking index on Borsa Istanbul appreciated by 4.15% last week and showed the best performance in the last 14 weeks. The stock exchange is expected to start the week positively.
How about the money markets? USD/TRY started the day at 8.06. Following the Central Bank’s message about winking at policy interest cut, USD/TRY fluctuates between 8.00-8.15 while EUR/TRY is traded at 9.67.
The Ministry of Treasury and Finance will reopen the 2-year (567 days) maturity semiannually fixed coupon bond and the 4-year (1,519 days) maturity, semiannually consumer price indexed government bond.
IN OUR MAGAZINE THIS WEEK
>> On the cover: This week, you can read the readymade garment manufacturer Koton’s e-globalization steps taken during the year of pandemic. The company, which was established by Gulten and Yilmaz Yilmaz in 1988 as a small shop that only sold readymade garments, started its globalization journey with its Munich store in Germany in 1996. The company closed its Germany store but after building a strong brand image over 25 years, Koton is taking the plunge into e-globalization with USD 15m in infrastructure and logistic investments, a decision it made immediately after the bottleneck the company suffered at the end of 2019. You can read the article on pages 14-15.
>> Professor Ilter Turan comments on the tension mounted between Russia and Ukraine. You can read the details on page 10.
>> Diplomacy: Bangladesh’s mega projects shine for Turkish contractors. P. 12.
>> Tourism: The one thing that can save tourism-vaccines-is in chaos. P. 13.
>> Startup: Mirket aims to give voice to people. P. 16.
>> Turkish State Railways (TCDD) will build a 170 MW Solar Power Plant (SPP) and 90 MW Wind Power Plant (WPP), which combined will meet 75% of its electricity consumption from renewable resources. You can read the details in our ‘Energy’ section on page 19.
>> Zeynep Gurcanli: A challenging ‘partnership’ with the U.S. P.24
>> Do not miss Time Out’s alternatives for the week.
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