‘London calling’ for Turkish companies

Dünya Executive - - BUSINESS - AYDIN SAHINALP

The London Stock Exchange, which occupies the heart of the world’s financial markets, is waiting for Turkish companies to ‘ring the gong,’ Central, South and Eastern Europe President Axel Kalinowski said in a panel last week. The U.K.Consul General in Istanbul, Judith Slater, hosted the “How to go public in the U.K.” event organised in cooperatio­n with Deloitte Private, the British Chamber of Commerce in Turkey (BCCT) and the United Kingdom Department for Internatio­nal Trade. The panel included vital informatio­n for companies seeking to access internatio­nally affordable sources of cheap financing and ways to tap into the public as a means of generating affordable financing and resources.

BCCT President, Chris Gaunt, said that the two countries’ trade relations gained momentum last year, posting a 26 percent increase in goods exports from the UK to Turkey and 10.7 percent from Turkey to the UK, according to official data. “[Initial Public Offerings] are a financial instrument that contribute­s to increasing the capacity and the ability of companies in Turkey,” he said. “The United Kingdom is the leading country in offering financial instrument­s in diversity.”

Deloitte Turkey CEO Humphry Hatton said that he believes Turkish companies will become more powerful players. “Initial public offerings of companies abroad provide them with significan­t sources of funding at low cost, “he said. “By getting listed on Borsa Istanbul, Turkish companies strengthen their capital in the direction of rising capacity, focusing on R&D investment­s, branding, and institutio­nalization. When they get listed on the London Stock Exchange they will add value to the Turkish economy by creating additional resources and will contribute to the developmen­t of strong players which will represent Turkey in internatio­nal markets.”

The London Stock Exchange, which is a financial center with the world’s most diverse investor profile, earned 15 billion pounds through a total of 108 IPOs in 2017, which equates to four times the value of funds acquired on other European stock exchanges.

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