Unakitan: We Will Put Shares Of T.H.Y. And Erdemir For Sale In New York Stock Exchange

NEW YORK - Turkish Finance Minister Kemal Unakitan said on Saturday that positive results were obtained from his meetings with investors and finance circles in New York.
Unakitan said a study was made in New York stock exchange regarding sale of shares of the Turkish Airlines (THY) and Turkish steel-iron producer Erdemir, which are within the scope of privatization.
Unakitan, who had meetings in New York on Thursday and Friday, replied to questions of reporters about Turkish economy.
Stating that they would offer some shares of THY and Erdemir for sale soon, Unakitan said, ''we think of sale of those shares in New York stock exchange. There are several U.S. companies who want to carry out studies in this respect.''
Unakitan said, ''we may sell shares of THY in New York stock exchange. We want to address to U.S. investors directly. Stock exchange is a way of accelerating this. Setting a date for this is not possible at the moment. I think the sale may take place till the new year in case a decision is taken for the start of the process today. We think of marketing 20 percent of THY shares in the stock exchange. This is also valid for Erdemir and Telekom.''
Briefing the journalists on his meetings in New York, Unakitan said, ''we had road-show programs in New York organized by City Group. We had several other meetings. Our target is to brief the investors about Turkish economy directly. Within the scope of the active policies the government pursues, we aim at promoting Turkish economy to all finance markets. My visit to the United States is a part of this effort.''
Unakitan said the investors mostly asked questions about the macro economic targets of Turkey and its performance.
Unakitan said the investor circles he met in New York and Washington appreciated the determination of the government on financial discipline implemented in Turkish economy.
''The investors stated that direct investment to Turkey would further increase in case Turkey gets a date from the European Union (EU) for full membership,'' Unakitan noted.
(AY) 29.05.2004