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    Turk Telekom earns 0.43 pct on its first trading day

    Hurriyet English
    15.05.2008 - 14:25 | Son Güncelleme:

    Turk Telekomunikasyon AS (Turk Telekom), Turkey's main fixed-line provider, debuted on the Istanbul Stock Exchange on Thursday and closed 0.43 percent above its 4.60 YTL public offering price. (UPDATED)

    Trading of Turk Telekom stocks after its approval of last week's $1.9 billion initial public offering began in Istanbul Stock Exchange.  

     

    Turk Telekom stocks, trading as TTKOM, sold for between 4.48-4.68 YTL, closing the morning session at 4.60 YTL, unchanged from its opening price.

     

    The price range of the stocks has not revealed volatility during the afternoon session. Stocks traded between 4.60-4.64 YTL, closing the afternoon session at 4.62 YTL, 0.43 percent above its opening and also initial public offering value.

     

    Shares sold for 4.60 YTL in the public offering of a 15 percent stake in Turk Telekom, bringing market value of the whole company to $12.7 billion.

     

    Turk Telekom CEO and Vice President Paul Doanny struck the gong on Thursday's opening of the Istanbul Stock Exchange.

      

    Photo: AA-Salih Zeki Fazlioglu 

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