Koç Holding announced that it will sell Yapı ve Kredi Bank shares

Yapı Kredi Bank

Koç Holding stated in its announcement regarding the Yapı Kredi Bank share sale, “Citigroup Global Markets Limited, J.P. Morgan Securities plc, and Merrill Lynch International have been authorized for the sale of 575 million Turkish lira worth of shares in Yapı ve Kredi Bank, and the sales process has commenced today.”

Koç Holding announced that it will conduct an accelerated bookbuilding process for the sale of up to 575 million Turkish lira nominal value of shares in Yapı ve Kredi Bank to institutional investors outside the stock exchange.

According to the statement released on the Public Disclosure Platform (KAP) by Koç Holding, they will sell a portion of the shares belonging to Yapı ve Kredi Bank.

The statement read as follows: “Within the scope of the sale process (‘Transaction’) through an accelerated bookbuilding method, up to 575 million Turkish lira nominal value of shares (‘Shares’) (representing 6.81% of the issued capital) out of the total 2 billion 282 million 666 thousand 574 Turkish lira nominal value of shares (equivalent to 27.02% of the Bank’s capital) we own in Yapı ve Kredi Bank A.Ş. (‘Bank’), will be offered to institutional investors outside the stock exchange. Citigroup Global Markets Limited, J.P. Morgan Securities plc, and Merrill Lynch International have been authorized as Joint Global Coordinators and Joint Bookrunners (‘Joint Global Coordinators and Bookrunners’) for the Transaction, and the sales process has commenced today.”

The final terms of the Transaction, such as the number of shares to be sold and the sale price, will be determined after the completion of the accelerated bookbuilding process, and the results of the sale will be announced separately.

The statement emphasized that the Transaction, which is intended for portfolio optimization, is expected to increase the liquidity and public float of the Bank’s shares. It further stated: “In the event that all the Shares are sold in the Transaction, our direct ownership in the Bank will be 20.22%, and the Bank’s public float will increase to 38.82%. Consequently, Koç Holding A.Ş. (‘Koç Holding’) and Koç Finansal Hizmetler A.Ş., our subsidiary with a current 40.95% stake in the Bank, are expected to hold a total of 61.17% of the Bank’s shares, and the Koç Group will continue to be the main shareholder of the Bank.”

Following the completion of the Transaction, our Company and Koç Finansal Hizmetler AŞ. have undertaken not to sell the Bank’s shares they will own, except for certain customary exceptions and with the permission of the Joint Global Coordinators and Bookrunners, for a period of 90 days.

The company declared that the above statements comply with the principles set forth in the Capital Markets Board’s current Communique on Material Events, fully reflect the information received by them, are consistent with their records, books, and documents, and that they have made all necessary efforts to obtain accurate and complete information on the subject and are responsible for the accuracy and completeness of the statements made.

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