Frozen Turkish Funds' Blue-Chip Holdings Sold Off-Market
6 Articles
6 Articles
Frozen Turkish Funds’ Blue-Chip Holdings Sold Off-Market
Banks overseeing Turkey’s fund liquidations sold about $254 million of blue-chip shares held by frozen funds off-market, in a move that could help remove an overhang on the country’s stock indexes.
The liquidation of 131 investment funds is unblocked
According to a letter sent to members by the Turkish Capital Markets Association, the off-exchange sale of BIST 30 shares held in the portfolios of funds undergoing liquidation has been completed. Under the previously announced sales conditions, these shares will not be allowed to be resold on the stock exchange for a period of three months.
According to a letter sent to its members by the Turkish Capital Markets Association, BIST 30 stocks held in the portfolios of funds undergoing liquidation will be offered for sale off-exchange at their closing prices as of November 3rd.
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