Two of Turkey's leading business conglomerates Koç and Sabancı holdings have recently announced the successive sales of stakes.

The Koç family has launched a transaction for the sale of some 107 million stocks worth TL 1.7 billion ($336.37 million), while the Sabancı Family has decided to sell off stakes worth nearly $100 million.

The total sales made by the two holdings members has approached nearly $600 million.

The first news of sales came from the Koç family last night after a Bloomberg report claimed that it had begun the sale of around 107 million Koç Holding stocks through accelerated book building. Only Citi Group Global Markets, Limited has been authorized for the sale.

In a statement released by Koç Holding Thursday, the sale price of each share with TL 1 (28 cents) nominal value was determined at TL 15.87 ($4.45). Accordingly, the value of 107 million shares was determined to be TL 1.7 billion ($.48 billion) in total.

The shares in question correspond to some 6.16 percent of the family's total shareholdings and 4.22 percent of Koç Holding. According to a statement from the Koç family to the Public Disclosure Platform (PDP) regarding the sales of shares, a contract has been signed with Citigroup for the sale of a nominal TL 107 million ($30 million) in shares (4.22 percent) to foreign corporate investors via private placement through accelerated book building.