Turkey is the odd one out in CEE’s primary equity revival

Emerging Europe has been enjoying a mini-boom in IPOs.

Poland, Russia and Kazakhstan have produced deals worth $1 billion or more since September. Even tiny Lithuania made headlines with a chunky listing of local utility Ignitis.

One name, however, has been conspicuously absent from this list.

Turkey, the region’s second-largest economy, has not produced an IPO of even the size of Ignitis for two and a half years – and bankers say that is unlikely to change in the near future.