Turkey: Istanbul puts on its small cap
Turkish exchange to replicate UK’s AIM; Istanbul looks to expand horizons to Russia, Middle East
number of companies traded on the ISE
The Istanbul Stock Exchange is the latest bourse from emerging Europe to announce plans to establish a small-cap market segment, which it is hoped will mirror the success of the London Stock Exchange’s Alternative Investment Market (AIM). Established in 1995, AIM has attracted more than 3,100 companies, which have raised almost $100 billion. The latest announcement by the IPE is part of an initiative launched in October 2008 to triple the number of companies listed to 1,000 by 2014, from about 320 at present.
"Going public and trading on ISE is essential for the companies to have continued access to the funds they need for growth and for ensuring sustainability," says ISE chairman Hüseyin Erkan.