The bank responsible for handling the liquidation of Turkish funds sold blue-chip shares worth approximately US$254 million under the frozen fund's name through OTC methods. The move is expected to remove the overhang pressure that is dragging down the country's stock indexes. According to the announcement, the Turkish Agricultural Bank, which was entrusted with the clearing, completed the transaction on November 3 and sold to investment funds and pension funds through an OTC placement. The sale removes a major source of uncertainty and is expected to ease pressure on Turkey's major stock indexes. Investors have been paying attention to how to dispose of this batch of fund positions to be liquidated until now, fearing that the large sell-off would impact the market. According to the announcement issued by the Turkish Capital Markets Association to asset management institutions, the total transaction amount was 12.7 billion liras. Bloomberg contacted the association and no response has been received.

The bank responsible for handling the liquidation of Turkish funds sold blue-chip shares worth approximately US$254 million under the frozen fund's name through OTC methods. The move is expected to remove the overhang pressure that is dragging down the country's stock indexes. According to the announcement, the Turkish Agricultural Bank, which was entrusted with the clearing, completed the transaction on November 3 and sold to investment funds and pension funds through an OTC placement. The sale removes a major source of uncertainty and is expected to ease pressure on Turkey's major stock indexes. Investors have been paying attention to how to dispose of this batch of fund positions to be liquidated until now, fearing that the large sell-off would impact the market. According to the announcement issued by the Turkish Capital Markets Association to asset management institutions, the total transaction amount was 12.7 billion liras. Bloomberg contacted the association and no response has been received.