Qatar Investment Authority Became The New Investor In Borsa Istanbul

Turkey Wealth Fund (TWF) and Qatar Investment Authority (QIA) completed today the acquisition of 10% of the shares in Borsa İstanbul AŞ (Borsa Istanbul) by QIA following the signing of the Memorandum of Understanding (MoU) on 26 November 2020 between two parties. The transaction size of USD 200 million implied a total equity value of USD 2 billion.

TWF CEO Zafer Sönmez said: “The 10% share transfer in Borsa Istanbul is one of the very first steps for the long-term cooperation between the two sovereign wealth funds. This investment will support the value creation and strengthen the corporate governance of Borsa Istanbul before an IPO of the company that we plan to pursue in the medium term. The transaction is also a demonstration of foreign direct investment in Turkey during the COVID-19 pandemic and global economic challenges. Borsa Istanbul will become one of the most important actors in İstanbul Finance Center that is planned to be operational in mid-2022. With this investment, QIA demonstrates its trust and commitment to both Borsa Istanbul and Turkey’s economic vision.”

Upon the completion of the transaction, TWF remains the largest shareholder in Borsa Istanbul with an 80.6% shareholding. QIA becomes a new investor in Borsa Istanbul with a 10% shareholding while the remaining shares are held by prominent local capital markets institutions.