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ISTANBUL - Turkiye Garanti Bankasi A.S. (TGBD) announced Tuesday it has received approval from the Capital Markets Board to issue warrants valued at 150 million Turkish lira ($1 kuruş per warrant).
The bank plans to issue 15 billion "Garanti Bank Intermediary Institution Warrants" over a one-year period, according to a regulatory filing. The issuance follows authorization granted by the bank’s Board of Directors on February 27, 2025.
The application for the warrant issuance was submitted to both the Banking Regulation and Supervision Agency and the Capital Markets Board, with the latter having now approved the summary prospectus.
Garanti BBVA, one of Turkey’s largest private banks, did not specify in its announcement how the proceeds from the warrant issuance would be used or provide details on the timing of the offerings within the approved one-year window.
The bank’s statement noted that in case of any discrepancy between the Turkish and English versions of the disclosure, the Turkish version would prevail.
The information was disclosed in a regulatory announcement transmitted through the EQS Group, based on a press release statement from the bank.
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