|Türkiye Vakıflar Bankası T.A.O
|ISE Trading Symbol
|Date of Establishment
|Paid-in Capital (TRY)
VakıfBank was offered to public in November 2005 for the first time and thus, 25.18% of its shares was listed in Istanbul Stock Exchange (ISE).
The public offering was realized through the sales in and out of the country of the new shares issued upon increase of capital rather than the sales of the existing shares of the shareholders; and thus, new resources exceeding USD12 Billion were provided both for our Bank, and for the Turkish economy.
As the companies with a public offering ratio over 25% are included within various indexes in foreign countries, the public offering model was created taking into account that the public offering of the Bank would exceed the rate of 25%; thus contributed to the brand recognition of the Bank in the international markets.
After public offering, the share of the General Directorate of Foundations in the Bank decreased to 58.45% and the share of the VakıfBank Pension Fund decreased to 16.10% and the publicly traded shares constituted 25.18% of the Bank’s capital.
As of December 11, 2019, 43.00% shares and 15.51% shares of General Directorate of Foundations representing Group (A) and Group (B), respectively (58.51% in total, 0.06% of which was other registered foundations) have been transferred to the Ministry of Treasury and Finance as per the Presidential Decree dated December 3, 2019.
With the decision of the Bank's Board of Directors dated May 11, 2020, it has been decided to increase the paid in capital of TL 2,500,000 provided that it remains within the registered capital ceiling, by completely restricting the pre-emptive rights of the current shareholders and by increasing cash capital increase, which will generate a total sales revenue of TL 7,000,000 in total. Within the framework of the relevant legislation of the Capital Markets Board ("CMB"), the Banking Regulation and Supervision Agency ("BRSA") and the Procedure for Borsa İstanbul's Wholesale Purchase and Sales Transactions, all of the shares to be issued due to the capital increase, are set to be transferred to Turkey Wealth Fund, without public offering and by dedicated sales method.
In the material event disclosure published by the Bank on May 15, 2020, it was announced that the sales price of the shares to be issued was determined as TL 4.98 for a share with a nominal value of 1 TL, and that the paid in capital will be increased from TL 2,500,000 to TL 3,905,622 as a result of the capital increase.
It has been announced that the shares with a nominal value of TL 1,405,622 issued by the Bank are sold with a dedicated sales method for a share with a nominal value of TL 1, with a total sales revenue of TL 7,000,000 over the price of TL 4.98. As of the same date, the shares were sold to Turkey Wealth Fund through the wholesale transaction method in stock market and the capital increase transactions have been completed. Please click here
for current Ownership Structure of VakıfBank.