Turkey Assets Fund (TVF) and the Qatar Investment Authority (QIA) include transactions involving the transfer of Borsa Istanbul qıa share of 10 per cent complete. The transaction under the memorandum of understanding signed between TVF and QIA on November 26, 2020 resulted in QIA’s $ 200 million investment. The transaction price in question was determined on Borsa Istanbul’s total capital value of $ 2 billion.
EXPLANATION FROM SONMEZ
Turkey Assets Fund are as relevant Victory Sonmez CEO said:
* The transfer of 10 percent share in Borsa Istanbul is the beginning of the long-term cooperation between the two countries’ wealth funds. We believe that this investment will contribute to the creation of value and the development of corporate governance principles before Borsa İstanbul’s planned public offering in the medium term.
* This investment has a special importance in terms of attracting foreign capital to our country during the Kovid period, when economic difficulties were experienced globally.
* Borsa İstanbul will be one of the important actors of the Istanbul Finance Center, which is planned to start operations in 2022; QIA in this respect, with an investment made by both the Istanbul stock exchange and proves the confidence that Turkey’s vision.
Following the completion of the share transfer, TVF will maintain its position as the largest shareholder of Borsa Istanbul with its 80.6 percent share. While QIA will become the investor of Borsa Istanbul with a 10 percent share, other shareholders consisting of leading national capital markets actors will continue to hold the remaining shares.
