Türk Telekom group provides integrated telecommunication services from PSTN, GSM
to wide band internet. Türk Telekom group companies have 17.3 millions of PSTN customers,
6 millions of ADSL customers and 12.6 million GSM customers as of Mach 31, 2009.
With its modern network substructure, covering the whole country, the group companies
offer a wide range of services to its personal and corporate customers. Turk Telekom,
who is the owner of the 99,9% of shares of the companies TTNET, Argela, Innova,
Sebit A.Ş. and AssisTT, is also the owner of 81% of the shares of Avea, which is
one of the three GSM operators in Turkey. Turk Telekom also supports Albtelecom
in Albania. The 55% of the shares of Türk Telekom belongs to Oger Telekomünikasyon
A.Ş. and the 30% of the shares belongs to Undersecretariat of Treasure of Turkey.
The remaining 15% of shares has been offered to public.
Being the leader of the market with its capability to perceive customer expectations,
its knowledge, and its entrepreneurial and competitive identity, Turk Telekom had
witnessed one of the most important developments in its history when Oger Telecom
had purchased 55% of Turk Telekom shares after its privatization in 2005. The broadcasting
corporation called “Acquisition Monthly” on which the international investors keeping
close tabs had awarded the privatization regarding the block sale of Turk Telekom
as the “transaction of the year in developing markets” with respect to mergers and
acquisitions. This union has also brought the company international standards in
“Group D” bearer shares with a total nominal value of TL 525 million which belonged
to the Turkish Treasury and which correspond to 15% of Türk Telekom’s paid-in capital
were publicly offered following the authorization of the sale by the Capital Markets
Board. Once the public offering had been completed, the shares have been listed
on the national market of İstanbul Stock Exchange as of May 15, 2008.
The 2008 public offering of 15% shares of Türk Telekom was the seventh biggest public
offering in the world and the biggest ever in Turkey. As a result of this offering,
the Turkish Treasury secured a total of USD 1.9 billion (TL 2.4 billion) in revenue.
The floor and cap prices set for the public offering were TL 3.90 and TL 4.70 respectively.
The final issue price was TL 4.60, which corresponded to a company valuation of
USD 15.5 billion and a share valuation of USD 12.7 billion. During the bookbuilding
period (April 28-29-30, 2008), potential investors in Turkey submitted bids for
1.1 billion shares worth a total of TL 5.3 billion.
All of the bids submitted by PTT employees, Türk Telekom employees, and small investors
were satisfied with shares. In the case of institutional investors and individual
major investors, the satisfaction rates were 95% and 6% respectively. A total of
95,000 bids were received from domestic resident investors during the public offering
and final sales were made to 94,000 of them. The Türk Telekom public offering represents
one of the biggest offerings ever undertaken in Turkey in terms of the domestic
allocation and sales.