Deals
JPMorgan Is Banking on Pent-Up Demand to Reignite Turkey IPOs
- Lender’s Turkey chief sees more deals as inflation, rates drop
- Investors need to see signs of predictability, Bagriacik says
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JPMorgan Chase & Co. expects Turkey’s capital markets to come back to life as inflation and interest rates decline, reigniting investor interest as the economy stabilizes.
“IPO demand is accumulating in Turkey and when markets normalize, there should be initial public offerings, secondary public offerings and accelerated book buildings,” Mustafa Bagriacik, chief executive officer of the lender’s Istanbul unit, said in an interview. “Demand and risk appetite for Turkey will be there once predictability is there; because investors are generally underweight Turkey.”