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Capital increase of Halkbank and Vakıfbank
Capital Markets Board approved the capital increase of Halkbank and Vakıfbank.
According to the CMB’s statement, Halkbank’s issued capital of 4 billion 969 million 120 thousand 730.29 TL, within the registered capital ceiling of 10 billion TL, will be increased by completely restricting the rights of existing shareholders to purchase new shares, and all of the shares to be issued will be included in the public offering. will be sold as allocated to the Bank’s controlling shareholder, Turkey Wealth Fund.
The selling price per share will be determined within the framework of Borsa İstanbul A.Ş.’s Procedure on Wholesale Purchases and Sales Transactions, following the application to be made by the Bank to the Stock Exchange. The nominal capital amount to be increased will be calculated according to the share sales price to be determined within the framework of the Procedure, with the total sales price of the shares to be issued 30 billion TL.
Vakıfbank’s issued capital of 7 billion 111 million 364 thousand 116.75 TL, within the registered capital ceiling of 10 billion TL, will be increased by completely restricting the rights of existing partners to buy new shares, and all of the shares to be issued will be transferred to Turkey, the main shareholder of the Bank, without public offering. It will be sold as allocated to the Wealth Fund.
The selling price per share will be determined within the framework of Borsa İstanbul A.Ş.’s Procedure on Wholesale Purchases and Sales Transactions, following the application to be made by the Bank to the Stock Exchange. The nominal capital amount to be increased will be calculated according to the share sales price to be determined within the framework of the Procedure, with the total sales price of the shares to be issued 32 billion TL.
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The Capital Markets Board in Turkey has approved the capital increase plans of Halkbank and Vakıfbank. Halkbank’s issued capital of TRY 4.97bn ($587m) will be completely restricted to existing shareholders and all new shares will be included in a public offering sold to the government’s Turkey Wealth Fund. Vakıfbank’s issued capital of TRY 7.11bn will also be completely restricted to existing shareholders and the new shares will be sold to the Turkey Wealth Fund without a public offering. The selling price for both banks‘ new shares will be determined according to Borsa Istanbul’s procedures for wholesale sales and purchases.
