Turkish government plans second Turk Telekom offering

The Turkish government is planning to hold a secondary public offering for a 6.68% stake in Turk Telekom by the end of 2013, according to local sources.

The government is said to have intensified its efforts to list part of the 32% stake after raising $2.5 billion from the sale of part of lender Halkbank in November last year.

Reports at the end of last year suggested that the government would sell around a 7% stake in the first quarter of 2013.

Turk Telekom is majority owned by Saudi Arabia’s Oger Telecom with a 55% stake.

In 2008 the carrier successfully completed an IPO for 15% of the government’s shares, securing $1.9 billion for the country’s treasury.