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Türkiye Kalkınma Bankası to offer unsold shares following rights issue

Türkiye Kalkinma Bankasi AS will sell the shares that remained unsold following the rights issue portion of its capital increase, which is slated to increase the issued capital of the lender to 500 million Turkish lira from 160 million lira, Finans Gündem reported Dec. 28.

The shares, with a nominal value of nearly 58,400 lira, will be sold in the primary market on the Borsa Istanbul stock exchange on Jan. 2, 2017, and Jan. 3, 2017, through Ziraat Yatirim Menkul Degerler AS, according to a filing from the lender.

As of Dec. 29, US$1 was equivalent to 3.52 Turkish lira.