Turkiye’s IPOs add concerns about demand

A street vendor sell traditional backery "Simit" as people pass next to his stand in the Eminonu district of Istanbul on August 30, 2024. In Istanbul, street vendors, popular figures inherited from the Ottoman Empire, are brooding over the loss of a large part of their Turkish clientele, stunned by inflation. (Photo by Ozan KOSE / AFP)

ISTANBUL: Turkiye’s newest stocks are trailing the broader market for the first time in six years, prompting worries about investor appetite for initial public offerings (IPO).

The Borsa Istanbul IPO Index of companies listed in the past 24 months is up 12% this year, far less than the 33% gain in the benchmark Borsa Istanbul 100 Index.