Bank Asya Barred From Selling Sukuk After Shares Suspended
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Turkish regulators said they won’t consider Bank Asya’s application to sell 140 million liras ($65 million) in debt, dealing another blow to the suspended Istanbul-based lender.
The Capital Markets Board, or SPK by its Turkish acronym, “won’t review” the application to sell debt, according to a weekly bulletin from the regulator yesterday after the stock market closed. It cited “ambiguity over ownership.”