Turkcell IPO_Greenshoe
On July 11, 2000 it was announced that in accordance with the July 10th, 2000 dated correspondence that was sent from Yapi Kredi Yatirim Menkul Değerler A.S, TL 2.4 trillion nominal value of Turkcell Iletisim Hizmetleri A.S. shares were sold in the Initial Public Offering by TL 44,000 price per share (TL 105.6 trillion in total) and TL 104.1 trillion gain on sale of these shares, will be used for share capital increase of Yapi Kredi Bank in accordance with the temporary Article no 28 of the Corporate Tax Legislation (Tax Holiday).
Between the dates July 3, 2000 and July 7, 2000, among the 24,000,000,000 number of shares that were offered to public 2,181,818,182 shares, which belonged to Yapi Kredi were sold to domestic and international investors.
It was announced in the offering circular that in order to stabilize the volatility and/or to meet the excessive demand in the market, the two global lead managers of the transaction would have the right to use green-shoe option (1%) in the following 30 days after 10% of the shares were offered to public.
In accordance with this green-shoe option 100,269,364 additional shares that belonged to Yapi Kredi were sold.
In conclusion, in the initial public offering 2,282,087,546 Turkcell Iletisim Hizmetleri A.S shares were sold (0.9509% of the share capital of the company) and TL100,732,784,356,963 proceeds were received. TL 99,359,292,351,936 gain on sale of these shares, will be used for share capital increase of Yapi Kredi in accordance with the Temporary Article no 28 of the Corporate Tax Legislation (Tax Holiday).
Yapı Kredi / 10 Sep 2000