Turkey’s biggest real estate investment partnership company, receiving a record 2.3 fold demand in equities, underwent a successful IPO process. Following its secondary public offering, Emlak Konut GYO’s shares began trading on Borsa İstanbul Collective Products Market under the ticker code “EKGYO” at a listing price of TRY 2.77.

Turkey’s biggest real estate investment partnership company Emlak Konut REIT started its secondary public offering on November 13, 2013 with a bell-ringing ceremony at Borsa İstanbul. Having reached a total value of USD 1.6 billion, Emlak Konut REIT’s secondary public offering was the year's biggest initial public offering in the form of capital increases, in Turkey, Europe, the Middle East, and Africa region.

More than 100 foreign investors from 20 different countries made bids for the company’s secondary public offering. Emlak Konut GYO General Manager Murat Kurum, Borsa İstanbul Executive Vice President Aydın Seyman and Borsa İstanbul Board Member Hüseyin Kelezoğlu attended the gong ceremony. 

Aydın Seyman: “We congratulate Emlak Konut REIT for performing the largest public offering through a capital increase in the Turkish capital markets.”

Borsa İstanbul Executive Vice President Aydın Seyman, stating that he was pleased to have realized the secondary public offering of Emlak Konut REIT, with a TRY 10 billion real-estate profile, added, “Emlak Konut’s secondary public offering is the second largest on Turkish Lira basis, the fifth largest on US Dollar basis, and the largest on the basis of the funds raised through a capital increase only in the Turkish capital markets.”

Aydın Seyman stated that in 2013, the initial public offering of 7 companies on the Equity Market, and 7 on the Emerging Companies Market (ECM) including Emlak Konut GYO’s secondary public offering, have generated funds totaling approximately TRY 4.5 billion.

“Currently, 9 and 8 companies’ applications for being traded on, respectively, the Equity Market and Emerging Companies Market are examined”, said Seyman, explaining that with the introduction of Emlak Konut GYO’s shares, the number of companies trading on Borsa İstanbul has reached 418.

Emlak Konut GYO received a demand totaling USD 2.5 billion from foreign investors while the demand for the USD 320 million portion allocated to domestic investors was 3.8 fold. Emlak Konut GYO started to trade on Borsa İstanbul Collective Products Market under the ticker code “EKGYO” at a price of TRY 2.77.