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| Name | Symbol | Market | Type |
|---|---|---|---|
| Akbank Turk Anonim Sirketi (QX) | USOTC:AKBTY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.70 | 3.50 | 3.83 | 0.00 | 13:15:20 |
From Dec 2019 to Dec 2024
Citigroup Inc. (C) said Friday it sold 404 million common shares in Turkish lender Akbank TAS (AKBNK.IS), representing a 10.1% stake, for 5.24 Turkish lira per share.
The U.S. bank said it expects proceeds from the transaction to total $1.15 billion, resulting in an after-tax loss of about $243 million in the second quarter. The deal will also generate about 23 basis points of Tier 1 Common capital under Basel III, it added.
Citi also agreed with Akbank parent Sabanci Holding AS (SAHOL.IS) to hold its remaining 9.9% stake in Akbank's common shares for a three-year lock-up period following the sale, while the Turkish banking-to-retailing conglomerate agreed to waive its right of first offer regarding the sale of Citi's 10.1% stake.
Citi and Sabanci also agreed to continue their strategic cooperation.
1 Year Akbank Turk Anonim Sirketi (QX) Chart |
1 Month Akbank Turk Anonim Sirketi (QX) Chart |
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