In the secondary public offering of Emlak Konut GYO, which is Turkey’s largest real estate investment company (REIT), our lawyers acted as Turkish Counsel to the underwriters Bank of America Merrill Lynch International (the Global Coordinator and International Bookrunner) and Halk Yatırım Menkul Değerler A.Ş. (Turkish Lead Manager). Our Istanbul office, Ismen Gunalcin, had represented the underwriters of the initial public offering of the shares of Emlak Konut GYO.
The offering was 2.3 times over-subscribed. It attracted the interest of more than 100 investors from over 20 countries, making it the largest public offering of the year in Eastern Europe, the Middle East and Africa. The total value of the public offering was US$1.6 billion (3.25 billion Turkish Liras).