Tupras Refinery IPO Earns Ankara $1.2Bn
Turkeys initial public offering of shares in the state oil refining company Tupras has resulted in earnings of more than $1.25bn for the government. Ankara had originally planned to offer 15% of its shares to the public, but due to oversubscription this was later raised to 27.4%. Around 3.58% of the companys shares are already in private hands. Including options, the sell-off is worth 31.5% of the companys capital....