Turkish firms with market value of $30B on roadshow in New York to meet investors

Published 23.01.2019 01:13

Austria's long-established investment bank Raiffeisen Centrobank will bring together Turkey's leading companies, amounting to nearly $30 billion in market value, with U.S. investors in New York today and tomorrow.

A total of 13 Turkish companies, including five banks, which are traded on the Borsa Istanbul Stock Exchange (BIST) with a market value of about $30 billion, will meet with nearly 30 U.S. funds, whose total asset value exceeds $3 trillion, at a summit called New York Turkey Day.

The summit will be attended by Akbank, Garanti Bank, Yapı Kredi, Vakıfbank and the Industrial Development Bank of Turkey (TSKB), as well as Koç Holding, Şişecam, Anadolu Group Holding, MLP Care, Mavi Giyim, Yataş, Bizim Toptan and Lokman Hekim.

Speaking to Anadolu Agency (AA), Raiffesein Centrobank Sales Director Özgür Güyüldar indicated that it has been a long time since such a large-scale Turkey-oriented event was held in the U.S. He said that a beautiful platform for around 190 one-to-one meetings will be created during the event, adding, "We expect a rise in the interest of the investors which has declined as a result of some negative developments."

Güyüldar stated that, thanks to the increased interest, both the BIST could find significant support in the eyes of foreign investors and the recovery in the Turkish lira would gain continuity.

Güyüldar expressed pleasure for organizing such an event with the contribution of Global Menkul Değerler, their strategic ally in Turkey, saying that the rise in investor interest would make a significant contribution to trust in the Turkish economy.

Güyüldar stated that some macro developments and the increased global fluctuation in 2018 had a negative impact on investors' perceptions, continuing, "As the normalization in the economy will take time, it would not be misleading to say the recovery in international investors' perception of Turkey can take little longer time. Obviously, this situation is not unique to Turkey, as we can see this kind of perception breakdown in all developing countries that are exposed to exchange rate shocks."

Underlining that the past successful experiences of Turkey have convinced investors that it has the skills to manage this kind of temporary market fluctuations, Güyüldar said, "With the constructive policies and structural reforms adopted over the last 16 years, Turkey has built its economy on strong foundations. So, we firmly believe that the summit we will hold will create a platform where our ideas will be shared with investors and make a positive contribution to the process of the recovery of perception." Lokman Hekim Health Group CEO Mustafa Sarıoğlu noted that the event they will participate in is important for being the first big investor meeting of the year.

Sarıoğlu said that they will also share their assessments on the Turkish health industry at the summit, adding, "We will come together with U.S. investment funds and will have the opportunity to explain the investment opportunities of our company. The Turkish health sector offers significant opportunities for those who consider making good use of their foreign currency assets. During our contacts in the U.S., we will have the opportunity to explain these opportunities face to face. We will break the negative perception of our national economy."

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