Türkiye’s initial public offering market has surpassed full-year 2025 figures, with 24 companies raising more than $1 billion so far in 2026 despite geopolitical tensions and global economic uncertainty, brokerage firm Tera Yatırım has reported.
A strong start to the second half of the year fueled the momentum. Following 16 public offerings in the first six months, an additional eight companies went public in the first two weeks of July alone, according to Emir Münir Sarpyener, general manager of Tera Yatırım.
As of July 21, total IPOs for the year have already topped the 18 listings completed in all of 2025.
Total capital raised reached $1.08 billion across the 24 listings through July 17. The current trajectory could put 2026 on track to approach 2023’s five-year record, when 56 companies raised $3.2 billion. Türkiye recorded 38 public offerings in 2022 and 33 in 2024.
“Despite global uncertainties, geopolitical risks and war, confidence in the Turkish economy, Turkish companies and our capital markets remains strong,” Sarpyener said. He noted that while market activity paused briefly during the U.S.-Iran conflict, offerings rebounded quickly, with the Capital Markets Board approving four additional listings in early July.
Tera Yatırım managed 21 percent of this year’s public offerings, executing five IPOs that generated 70.8 billion Turkish liras in demand from 3.9 million retail investors. The total transaction value for the firm’s five listings reached 13.4 billion liras.
Sarpyener said the firm expects the listing wave to continue through the rest of the year, directing fresh capital into production, new investments and employment across the Turkish economy.
