Post by A&O Shearman

Ordu Yardımlaşma Kurumu (OYAK) has completed the sale of its 8.5% stake in Hektaş Ticaret AŞ (Hektaş), comprising 716.55 million shares through an accelerated bookbuilding on Borsa Istanbul wholesale market. The offering attracted strong demand from institutional investors and was upsized during bookbuilding, pricing at TRY 3.39 per share for gross proceeds of approximately TRY 2.4 billion. The net proceeds from the sale will be reinvested by OYAK into Hektaş through a capital increase, supporting the company in reducing its debt in the near term. Gedik & Eraksoy together with A&O Shearman, advised HSBC as Sole Global Coordinator and Bookrunner on the transaction, with cross-border teams across London and Istanbul supporting its execution. The A&O Shearman team was led by partners Adam Wells and Michael Bloch, alongside senior associates Jack Mason-Jebb and Baxter Schooley. The Gedik & Eraksoy team was led by partner Umut Gürgey, with associates Nur Ertekin and Doğukan Yasin Sevgi. #AOShearman #GedikEraksoy