CMB approves Halkbank and Vakıfbank's allocated capital increase

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CMB approves Halkbank and Vakıfbank's allocated capital increase

The Capital Markets Board has approved the capital increases of Halkbank and Vakıfbank. The CMB has approved the capital increases of Halkbank and Vakıfbank. According to the CMB weekly bulletin, the Board has approved the allocated capital increase of 4 billion 969 million 121 thousand liras for Halkbank and 7 billion 111 million 364 thousand liras for Vakıfbank. Halkbank’s issued capital of 4 billion 969 million 121 thousand TL within the registered capital ceiling of 10 billion TL will be increased by completely restricting the rights of existing partners to purchase new shares and all of the shares to be issued will be sold as allocated to the bank’s controlling partner, the Turkey Wealth Fund, without a public offering. The sales price per share will be determined within the framework of Borsa İstanbul AŞ’s Procedure for Wholesale Purchase and Sale Transactions following the application to be made by the bank to the Stock Exchange. The nominal capital amount to be increased will be calculated according to the share sales price to be determined within the framework of the procedure, with the total sales price of the shares to be issued being 30 billion TL. Vakıfbank's issued capital of 7 billion 111 million 364 thousand TL within the registered capital ceiling of 10 billion TL will be increased by completely restricting the rights of existing partners to purchase new shares and all of the shares to be issued will be sold to the bank's controlling partner, Turkey Wealth Fund, as an allocation without a public offering. The sales price per share will be determined within the framework of Borsa İstanbul AŞ's Procedure on Wholesale Purchase and Sale Transactions following the application to be made by the bank to the Stock Exchange. The nominal capital amount to be increased will be calculated according to the share sales price to be determined within the framework of the procedure, with the total sales price of the shares to be issued being 32 billion TL.