Latest news with #CapitalMarketsBoard
Zawya
4 days ago
- Business
- Zawya
Turkey's Emlak Konut REIT raises $526mln in real estate certificate IPO
GDANSK: Turkish real estate investment trust Emlak Konut completed the initial public offering of real estate certificates for its Damla Kent project, raising 21.41 billion lira ($525.8 million) amid strong investor demand. The sale covered 1.92 billion certificates offered to investors and an additional 897.1 million in overallotments, all priced at 7.59 lira each, the bookrunner Halk Yatirim Menkul Degerler said in a statement to the stock exchange. Demand for the base offer reached 1.87 times, with a total of 3.60 billion certificates sought. Emlak Konut said on July 24 it had received approval from the Turkish Capital Markets Board to issue the certificates, with the first stage expected to raise 14.60 billion lira and cover 1,540 residential units. Depending on demand, the offer could be expanded by 674 units, bringing the total to 21.41 billion lira. Emlak Konut REIT said it aimed to finance construction of 2,214 residential units with the IPO. ($1 = 40.7130 lira) (Reporting by Canan Sevgili and Miraç Eren Dereli. Editing by Mark Potter)
Crypto Insight
05-07-2025
- Business
- Crypto Insight
Turkish authorities block PancakeSwap in crackdown on crypto websites
Turkey's Capital Markets Board, the country's financial regulator, announced it had blocked access to websites 'providing unauthorized crypto asset services.' In a Thursday notice, the Capital Markets Board said it had taken legal action against 46 websites, including decentralized exchange PancakeSwap and Cryptoradar, in a crackdown on crypto services offered to residents of Turkey. The regulator cited the country's Capital Markets Law as its authority to block the websites. PancakeSwap reported more than $325 billion in trading volume for June, making it one of the most significant decentralized exchanges alongside Uniswap and Curve. It's unclear how Turkish authorities determined the platform had been offering 'unauthorized' services. Cointelegraph reached out to a PancakeSwap spokesperson for comment but had not received a response at the time of publication. Regulators and authorities in certain countries have acted to block websites offering crypto services, often saying the companies had not been registered or were facilitating illicit transactions. The governments of Kazakhstan, Venezuela, the Philippines, Russia and others have previously cracked down on similar websites. Strengthening crypto rules in Turkey Turkey's Capital Markets Board has had full regulatory control over crypto asset service providers offering services to residents since March, when it created a framework establishing standards and requirements. Since February, crypto users in Turkey have been required to provide identifying information when executing transactions of roughly $425 or more. Turkish residents are permitted to purchase, hold and trade cryptocurrencies, but the country banned using digital assets for payments in 2021. A local law firm was scheduled to challenge the ban in a May hearing. Source:
Shafaq News
24-03-2025
- Business
- Shafaq News
Turkish Bourse gains 3.1% despite short-sale ban
Shafaq News/ On Monday, Turkish stocks rose by 3.1%, recovering some of the significant losses recorded last week following a decision by Turkiye's Capital Markets Board to ban short-selling on the stock exchange. The benchmark Istanbul stock exchange index had ended last week with a 16.6% drop, marking its biggest weekly decline since the global financial crisis of 2008. The banking sector sub-index also saw a 3.23% increase by 08:56 GMT, after suffering losses exceeding 26% the previous week. The Turkish lira was stable, trading at 37.9550 against the dollar, showing little change from Friday's close at 37.9500, after it fell by 3.5% last week. Additionally, Turkiye's international sovereign bonds recovered some of their losses, with bonds maturing in 2045 rising by 0.7 cents to 83.7 cents on the dollar, according to TradeWeb data. These bonds had dropped more than three cents last week. The market turbulence has been significant since the arrest of Istanbul Mayor Ekrem İmamoğlu on Wednesday, which triggered sharp declines in the lira, stocks, and bonds. This prompted Turkiye's Capital Markets Board to implement exceptional measures, including the short-selling ban and easing restrictions on share repurchases.
Bloomberg
11-02-2025
- Business
- Bloomberg
Turkey Said to Weigh IPO Slowdown After Mixed Demand for Deals
Turkey is considering slowing down the pace of initial public offerings on Istanbul's main bourse, according to a person familiar with the discussions, following mixed investor demand for a spate of recent deals. The Capital Markets Board is looking into requests from some IPO applicants to delay granting final approvals for their offerings, said the person, who asked not to be identified because the matter is private. The companies want the regulator to assess market sentiment before consenting to a next batch of deals, the person said.
