Turkey Wealth Fund has moved forward with a secondary share sale in Türkiye Sigorta A.Ş. by mandating Citi and JP Morgan to manage the offering for foreign institutional investors. The transaction covers shares equal to 4.50% of the company’s issued capital and was initiated through an off-market structure using an accelerated book-building method.
According to the disclosure submitted to the Public Disclosure Platform on 14 May 2026, the process was authorised by TVF Financial Investments Inc., the majority shareholder of Türkiye Sigorta and a wholly owned subsidiary of the Turkey Wealth Fund. The shareholder currently controls 81.1% of the insurer’s capital and plans to sell shares with a nominal value of up to 450,000,000.00 TL to investors based outside Թուրքիyе.
Details of the placement process
The sale is being coordinated by Citigroup Global Markets Limited and JP Morgan Securities plc, which are acting as joint global coordinators and bookrunners. The final size of the offering and the sale price are to be set after completion of the accelerated book-building process.
The company also indicated that the book-building phase has been completed, while the official outcome of the transaction will be disclosed separately. Settlement is expected to take place off-exchange.
Expected shareholding structure after completion
If all offered shares are successfully sold, TVF Finansal Yatırımlar A.Ş. is projected to retain a direct stake of 76.60% in Türkiye Sigorta. In that case, the company’s public float would increase to 23.40%, potentially broadening its international institutional investor base.
