Manama, Bahrain: Venture Capital Bank (“VCBank”), an Islamic wholesale bank licensed by the Central Bank of Bahrain announced the successful listing of its investee company, Göknur, the largest fruit juice concentrate and fruit puree producer and exporter in Turkey, on the Turkish Stock Market, Borsa Istanbul.
The Initial Public Offering attracted record breaking interest from individual investors, and domestic and international institutional investors, achieving high trading volumes with stock hitting limit up on both the first, and the second and third day of trading.
A total of 79,250,000 shares of the global fruit and vegetable sector leader were offered to the public, with a demand for shares of 6.9 billion Turkish Lira (TL), (USD 364 million) which was 7.9 times the total public offering size.
Commenting on the listing, CEO of VCBank, Robert C. Wages said: “We are pleased to announce the successful listing of Goknur on the Turkey Market. The market interest underscores Göknur’s position as a global player in its sector and the confidence in the company’s performance and growth trajectory.”
Mahmood Zainal, Executive Director, Investments, at VCBank said: We are proud to have successfully completed the Göknur public offering which received record demand. This is the first Initial Public Offering implemented by the bank and is a result of our more active exit strategy across all of our investments.”
About Venture Capital Bank BSC (c)
Venture Capital Bank (“VCBank”) is a prominent provider and manager of alternative investment products, serving high-net-worth private and institutional clients in the Gulf Cooperation Council countries from its Headquarters in the Kingdom of Bahrain. The bank, which pioneered Sharia compliant venture capital in 2005, manages a diversified and growing portfolio with a global investment footprint that spans the MENA region, the United States and Europe. VCBank operates under an Islamic wholesale banking license from the Central Bank of Bahrain, the bank leverages an experienced multinational team, and an international network of trusted investment partners.
Corporate Communications Consultant
Venture Capital Bank BSC (c)
P O Box: 11755, Manama, Kingdom of Bahrain