The Infinia case highlights the growing risks in the Turkish IPO market. More and more companies are coming under financial pressure even before their initial public offering.
The Turkish Central Bank is keeping its key interest rate steady. Capital Economics does not expect any interest rate cuts for the time being due to ongoing inflation risks.
The Turkish Vestel Group is beginning to restructure its Eurobond. At the same time, discussions are underway with banks, and new lira-denominated bonds are being issued.
The Turkish Purchasing Managers' Index fell to 47.1 points in June. The conflict in the Middle East is weighing on demand, production, and industrial supply chains.