Turkish, foreign investors flock to stock market public offerings in 2018

Published 08.02.2018 21:37

The public offering market, which made a fast start this year on the Borsa Istanbul, is expected to continue its mobility with the intense interest of domestic and foreign investors. Trabzon Port, Enerjisa and MLP Health Services, which were publicly offered following the public offering of Safkar Ege Soğutmacılık Klima on Jan. 10-11 on the Borsa Istanbul Primary Market, were met with great interest from domestic and foreign investors.

Individual and corporate investors in four public offerings realized since the beginning of the year acquired 54,766 shares. According to the public offering prices, the size of the public offering was realized since the new year has reached TL 3 billion ($758.3 million).

While the allocation in Trabzon Port's public offering was made solely to domestic residents, the demand from individual and corporate investors reached six times the size of the public offering. In the public offering of shares with a nominal value of TL 6.3 million, the share purchase demand of 9,971 individual and 48 corporate investors was partially met. While the public offering price was realized at TL 15.50, the shares began to be traded on the Borsa Istanbul on Jan. 24. The Trabzon Port shares, which went up to TL 21.86 in two days with the consistency of intensive investor demand from the first minute of trading, was stabilized in the band of TL 15.50- TL 16.00.

In Enerjisa, which is the biggest public offering of the year, investors almost lunged at the stocks. While the domestic individual investor was in demand for more than 21 times the allocated shares, the request of the domestic corporate investor was about seven times higher than the demand. Foreign corporate investors also requested 465.3 million lots of Enerjisa shares, compared to an allocation of 180.7 million lots. While Enerjisa's share price was determined as TL 6.25 in the public offering held through the book-building method on Feb. 1-2, the demand of 38,487 individual, 233 domestic corporate and 60 foreign corporate investors were partially met. An investor demanding 100 lots in the domestic corporate investor side, where the strongest demand came, was only able to buy 4.5 lots of Enerjisa shares. Today, the price of Enerjisa shares traded on the Borsa Istanbul has been stabilized at TL 6.87 after seeing TL 7.20.

The book-building in MLP Health Services Inc.'s public offering was held on Feb. 1-6. In the public offering of MLP Health Services shares with a nominal value of TL 72.8 million, the demand from the investors reached a total nominal value of TL 89.2 million, while the price per share was determined as TL 19.00. According to the MLP Health Services public offering results, demand from 30 foreign corporate and 5,059 domestic individual and 69 domestic corporate investors were partially met. It is expected that MLP Health Services's shares, which received a demand of around 1.2 times from the investors for public offering, will be traded on the Borsa Istanbul on Tuesday, Feb. 13.

In the public offering of the Safkar shares with a nominal value of TL 9 million on the Borsa Istanbul Primary Market, 798 individual, nine corporate and two foreign individual investors acquired shares. Analysts stated that Turkey's growth forecast for 2017 is around 6 to 7 percent, adding that the pioneering macroeconomic data from the first month of this year has increased their predictions that the growth momentum will continue even if it slows down, and that the interest in the share markets continue in this regard. ISTANBUL / DAILY SABAH WITH AA

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