Turkey's largest ever bank offer

Article Abstract:

The Turkish government are planning to undertake the privatisation of several state owned companies, such as the telecoms company Turk Telekom and Turk Hava Yollari, the national airline. Some $651 million was raised from the sale of 12.3% of Turkiye Is Bankasi (Isbank). The market capitalisation of Isbank is $5.3 billion, following the share offer. Some 50% of the foreign demand for shares came from European investors. Isbank owns several companies, such as glass works and insurance. A 28% share of the company is owned by the Republican People's Party and private investors own 27%.

Security brokers and dealers, Securities Brokerage, Securities Trading, Securities industry, Turkey, Turkiye Is Bankasi A.S.

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Jamaican banking sales progress

Article Abstract:

In the first half of 1999, Jamaica will begin privatising its banks, starting with an offering of a new company formed by the merger of CentizensBank, Eagle Commercial, Island Victoria, and Workers Bank, all troubled banks that were taken over by Jamaica's Financial Sector Adjustment Company (Finsac). Finsac has already spent US$2bn on Jamaica's collapsing financial institutions, including the banks, merchant banks and insurers. Finsac will keep the bad assets of the banks to make the new bank company more enticing to prospective purchasers.

Government domestic functions, Jamaica

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Argentina sells off provincial banks

Article Abstract:

Six of Argentina's provincial banks have now been privatised with plans for a further 10 currently going through the motions. The World Bank and Inter-American Development Bank have set up a fiduciary fund of $1 billion to help refinance bad debt; while a second fiduciary fund is targeted at capital injection, aimed to help the private banks which take the provincials on.

Argentina

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