Is Yatirim of Turkey Offers 20 New Warrants for Stocks, Lira

Is Yatirim Menkul Degerler AS (ISMEN), Turkey’s biggest broker which is owned by Turkiye Is Bankasi AS (ISATR), will offer 20 new warrants on the Istanbul Stock Exchange tomorrow.

The Istanbul-based broker will start 10 warrants based on the benchmark ISE 30 Index, which comprises the country’s 30 biggest listed companies, it said in an e-mailed statement today.

Is Yatirim will also offer eight warrants on shares of Isbank, Turkey’s biggest listed bank by assets, Akbank TAS (AKBNK), which is owned by Haci Sabanci Holding AS (SAHOL) and Citigroup Inc. (C), Turkiye Garanti Bankasi AS (GARAN), the biggest lender by market value, and Yapi & Kredi Bankasi AS (YKBNK), which is controlled by UniCredit SpA (UCG) and Koc Holding AS (KCHOL), it said.

The broker will issue two warrants on the lira versus the dollar, according to the statement. The securities will have maturities ranging from Aug. 31 to Dec. 31, 2012, it said.

Warrants are pre-packaged puts and calls created by the issuer and sold to investors through exchanges.

To contact the reporter on this story: Sibel Akbay in Istanbul at sakbay@bloomberg.net

To contact the editor responsible for this story: Aydan Eksin at aeksin@bloomberg.net

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