VCBank Announces Successful Public Listing of Turkish F&B Leader on Turkey Market

TDT | Manama                                        

The Daily Tribune – www.newsofbahrain.com   

Venture Capital Bank, an Islamic wholesale bank licensed by the Central Bank of Bahrain announced the successful listing of its investee company, Göknur, the largest fruit juice concentrate and fruit puree producer and exporter in Turkey, on the Turkish Stock Market, Borsa Istanbul.

The Initial Public Offering attracted record breaking interest from individual investors, and domestic and international institutional investors, achieving high trading volumes with stock hitting limit up on both the first, second and third day of trading.

A total of 79,250,000 shares of the global fruit and vegetable sector leader were offered to the public, with a demand for shares of 6.9 billion Turkish Lira (TL), (USD 364 million) which was 7.9 times the total public offering size.

CEO of VCBank, Robert C. Wages said: “The market interest underscores Göknur’s position as a global player in its sector and the confidence in the company’s performance and growth trajectory.”

Mahmood Zainal, Executive Director, Investments, at VCBank said: “This is the first Initial Public Offering implemented by the bank and is a result of our more active exit strategy across all of our investments.”