Turkey’s Halkbank Presses Ahead With Secondary Share Offering Despite Fund Turmoil

Turkey’s Halkbank is continuing preparations for a secondary public share offering despite recent market turbulence linked to an investment fund crisis, chief executive Suleyman Ozdil said.

Ozdil said strong investor interest was supporting the bank’s plans to proceed with the offering. Halkbank is Turkey’s third-largest state-owned bank.

The preparations come as disruption surrounding investment funds has unsettled the Turkish market, creating a challenging backdrop for the planned share sale.

The bank’s position signals that the recent turmoil has not derailed its preparations. Ozdil’s comments did not specify the offering’s timing, size or pricing.