Number of Turkish stock investors nears 2 million

Published September 26th, 2000 - 02:00 GMT

The number of Turkish stock market investors rose by approximately 1 million over the past year, the Anatolian news agency reported last Thursday. 

 

According to data from the Istanbul Stock Exchange (IMKB) Settlement and Custody Bank (Takasbank), accounts with Takasbank numbered 1,967,153 on September 15th, of which 1,356,824 were holding share certificates. 

On Sept. 20th of last year, 882,492 accounts were open and 563,132 of them were active. 

 

Falling interest rates and massive public offerings such as those by state-owned refiner Tupras and mobile operator Turkcell this year attracted individual investors to the Turkish stock exchange. 

 

Gedik Securities General Manager Erhan Topac said entries of new investors into the Turkish bourse picked up especially from December to April. 

"Public offerings are an important catalyst to attract new investors to the stock exchange," Topac told the Anatolian news agency

 

He said the number of mutual fund investors also rose significantly. 

"We are expecting share certificate investors to reach 5 million in three years, on the condition that the stabilization program is carried out, inflation goes down and the pension system is reformed to allow private pension schemes," Topac added. –(Albawaba-MEBG) 


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