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Business National

‘Publicly listed companies should take role in bourse management’

Vedat Akgiray
Vedat Akgiray
Work to restructure exchange markets is under way, and in response, the Capital Markets Board (SPK) wants publicly listed companies to possess more power both in the markets’ management and ownership structure, SPK President Vedat Akgiray said on Tuesday.

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Speaking at a reception organized by the Turkish Investor Relations Association (TÜYİD) for the promotion of a recently published book titled “Sermaye Piyasalarına Açılan Pencere: A’dan Z’ye Halka Açılma ve Yatırımcı İlişkileri” (Window to Capital Markets: Initial Public Offering and Investor Relations from A to Z) at the Sakıp Sabancı Museum on Tuesday, Akgiray noted that they are working to restructure the stock exchange and that they wanted publicly listed companies to have a place in the management of the stock exchange and even in its ownership structure if appropriate.

Akgiray remarked that investor relations are becoming more important in Turkey and praised the work of TÜYİD for guiding investors and firms in the market. TÜYİD is the only association where publicly listed companies can gather together, he said, urging more companies to join the association.

“We are working on a comprehensive plan to launch an initial public stock offering [IPO] mobilization in the near future,” the SPK head said, expressing approval for the book in providing necessary information to investors in this regard. TÜYİD Chairman Tamer Haşimoğlu, delivering the opening speech at the event, stated that TÜYİD is meeting with people from business and economic circles during this event for the first time. TÜYİD is growing steadily, Haşimoğlu said, explaining that the number of association members has exceeded 100 thus far and that the number of corporate members is currently more than 25, even though TÜYİD just started to offer membership last March. He defined the aim of TÜYİD as taking an active role in molding professional standards in investor relations in Turkey, adding that TÜYİD believed this would contribute to the deepening of capital markets and add value to Turkish companies. “We want to help the development of related legislation by becoming a bridge between companies, investors and regulatory institutions,” he said, detailing the other goals of TÜYİD, including the establishment of international cooperation to transfer global information and experience to Turkey, the development of an information-sharing platform and increased awareness of investor relations in the country. To achieve this goal, TÜYİD will continue to hold seminars and conduct research, he added.

The book, which was written by Funda Güngör, a founding executive member of TÜYİD, Orhun Köstem and Haluk Özdemir, was jointly published by TÜYİD and Grayling, a global, broad-based public relations and public affairs company. Speaking at the event, Güngör stated that when she started to work in the field of investor relations, a publication devoted to this subject could not be found in Turkey, adding that she hopes the book will work as a guidebook for investors.

Founded in January 2009, TÜYİD aims to promote international standards and to foster excellence in investor relations in Turkey. TÜYİD works to support the promotion of Turkish companies and markets as well as Turkey. The association’s primary objectives are: to represent the investor relations profession; to raise awareness of investor relations in Turkey; to provide a networking platform for investor relations professionals to exchange views and share experiences; and to support professional development through certificate programs, courses and training, summits, conferences and member panels.

The event was also attended by the İstanbul Stock Exchange (İMKB) senior vice chairmen, İbrahim Kurban and Aydın Seyman, along with Grayling board chairman Anne McBride.

05 November 2009, Thursday

ZEYNEP KALKAVAN  İSTANBUL

   

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