Turkey privatizes TEIAS through public offering

(Enerji IQ – July 2021) The shares of Turkey’s transmission system operator TEIAS will be offered to the public, according to a Presidential Decree dated July 2, 2021. The majority stake in the company will remain in the state’s control.

“TEIAS was included in the scope of privatization with the Presidential Decision dated July 2, 2021, to start preparations for the public offering. As such, the privatization method will be a public offering, the majority share in TEIAS will remain in the public sector, and public control will continue unequivocally. There is no block sale or transfer of the company’s operating rights to any person or institution,” said the statement published on the website of the Privatization Administration (ÖİB).

According to the decree, the Privatization Administration will carry out preparation for the incorporation with the Ministry of Energy and Natural Resources.

The statement emphasized that offering a minority share of TEIAS to the public aimed to bring a solid, broad investor-based company to Turkish capital markets.

“Thus, in TEIAS, in addition to public auditing, capital market regulations such as financial reporting, public disclosure, independent auditing, and corporate governance will also be implemented. During the preparation process for the public offering and afterwards, the Privatization Administration, the Ministry of Energy and Natural Resources, and all other stakeholders, all gave the highest level of attention and importance to the seamless continuation of all of TEIAS’ business processes and activities. No rumors or false or misleading comments made about the process, other than the statements made by authorized persons and institutions, should be respected,” the statement emphasized.