TC Ziraat Bankasi AS and Turkiye Is Bankasi AS sold about $254 million in blue-chip shares held by frozen funds, according to a notice seen by Bloomberg. The banks were tasked with overseeing the funds’ liquidation.
The sale was completed on Nov. 3 through an off-exchange placement to investment and pension funds. The transaction could help remove an overhang on Turkey’s stock indexes.
Sources: Bloomberg Markets.