Following our disclosure on July 25, Yapı ve Kredi Bankası A.Ş. (the "Bank") shares with a total nominal value of TRY 575,000,000 corresponding to 6.81% of the issued share capital of the Bank (the "Shares") have been placed with institutional investors in the accelerated bookbuild process, which priced at TRY 11.75 per Share, for a total amount of proceeds of TRY 6,756,250,000 (the "Transaction").
The Transaction is expected to settle through an off-exchange transaction on July 28, 2023 (subject to customary closing conditions) and further disclosure will be made following the completion of such settlement.
Following the settlement, our direct shareholding interest in the Bank is expected to be 20.22% and the total shareholding interest of Koç Holding A.Ş. and Koç Finansal Hizmetler A.Ş., our subsidiary with a 40.95% current shareholding in the Bank, is expected to be 61.17% and therefore Koç Group would continue to be the major shareholder of the Bank.
We represent and warrant that above disclosure is in conformity with the principles of "Material Events Communiqué" of the Capital Markets Board, and it fully reflects all information within our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by us in order to obtain all information completely and accurately about the subject matter thereof, and we are responsible for the disclosure.