17.09.2025 09:30
The Turkey Wealth Fund has initiated the process for the sale of shares with a nominal value of 152 million TL, corresponding to approximately 1.53% of Vakıfbank's capital, to foreign institutional investors. The sale will be conducted through an accelerated book-building method.
The Turkey Wealth Fund (TVF) has decided to sell a portion of its shares in Vakıfbank to institutional investors residing abroad.
152 MILLION TL SHARE SALE
According to the statement made by TVF to the Public Disclosure Platform (KAP), a portion of 152 million TL of the 7.4 billion TL nominal value of Vakıfbank shares owned by the fund will be put up for sale. This amount corresponds to approximately 1.53% of Vakıfbank's issued capital.
PROCESS ACCELERATED
The sale will be conducted through an accelerated book-building method. When the process is initiated, Merrill Lynch International has been authorized as the sole global coordinator and bookrunner. The number of shares to be sold and their price will be determined after the book-building process. The settlement of the transaction is planned to be conducted off-exchange.
TVF'S SHARE WILL DECREASE
With the completion of the sale, TVF's direct shareholding ratio in Vakıfbank will decrease from 74.79% to 73.26%. The free float ratio of the bank is expected to be 7.51%.
TVF announced that it has committed to a "lock-up" period of 90 days for the remaining shares after the sale, except for customary exceptions and the coordinator's approval.