Turkey Market Overview April 2018

Overview

• Strong fiscal stimulus and an export market recovery signalled a stronger performance in 2017 compared to 2016, with the positive momentum expected to continue into 2018. A rather more stable period, has encouraged private equity firms on the ground to raise funds for Turkey, utilizing their track record for long-term investing in turbulent markets to attract investors

• The Turkish market is set to see a plethora of IPOs with 2018 on track to be a record year for equity issuance. Total amount of cash raised in a year could reach its peak to over USD 4.5bln. A few of the leading companies announced to tap the market include Sok Martketler, Beymen and DeFacto, following the recent IPOs of Enerjisa Enerji, Mavi Jeans and Medical Park among others. This has led to banks looking to boost their ECM product expertise in the market

• Local firms have maintained dominant coverage in Investment Banking and winning high-profile regional mandates such as the sale of a significant stake in Sefamerve.com, leading Islamic fashion e-commerce retailer, which will be managed by Pragma Corporate Finance