Qatar Moves to Buy a Share of Borsa Istanbul, While the Industry Reaches a New Goal
Turkish Asset Fund (TVF) and Qatar Investment Authority (QIA) has signed the preliminary contract for Qatar to buy %10 of the Turkish Stock Exchange entity. According to the TVF, its CEO Zafer Sönmez and QIA's CEO Mansoor bin Ebrahim Al-Mahmoud met on November 26 to sign a mutual agreement that will benefit both countries and welcome more investments from Qatar to Turkey. TVF is the highest shareholder of Borsa Istanbul with %90,6. After this sale, TVF will continue to hold %80,6 of the shares in the Stock Exchange Entity.
While Borsa Istanbul's capital gains were at 421 Million TRY in 2018, the Stock Exchange entity made a record-breaking opening on November 27. In the morning of the day, Borsa Istanbul's BIST 100 index opened with a %0,45 increase. Its 1.348,47 point is an all-time high for the entity, and a 5,97 point increase from its closing from the previous day. In Borsa Istanbul, bank and company stocks rose %0,71 and %0,29 respectively. The IT industry was the winner of the day with a %1,28 increase. The tourism sector saw a slowdown with %0,43, an understandable decrease as Coronavirus continues to halt all tourism across the globe.
