15 Percent Of Turk Telekom's Shares To Be Sold With Public Offering

ISTANBUL - The bookbuilding for the sale of 15 percent shares of Turk Telekom, the country's only fixed telephone line service provider, will take place between April 28-30.
Turkey's Privatization Administration held a press conference in Istanbul on Monday and briefed the media on the Initial Public Offering process for the 15 percent public shares of Turk Telekom.
Chairman Metin Kilici said the public offering process started with a Council of Ministers decree in December 2007 and noted that it aimed at encouraging small scale investors and workers.
Kilici said the follow-on public offer would be held between May 7th-9th. He said Turk Telekom's shares would be quoted and transacted at the Istanbul Stock Exchange as of May 15th with the code "TTKOM".
The Treasury holds 45 percent of stake of Turk Telekom.
55 percent of Turk Telekom was privatized with a tender on July 1st, 2005. Oger Telecoms group won the tender offering 6.55 billion USD.
(OZG-MS)