Turkey’s IPO Boom Starting to Show Signs of Running Out of Gas

Turkey’s initial public offerings have been among the region’s best performers this year, outshining Europe’s bigger markets, but local investor appetite is starting to show signs of waning as stock gains become less reliable.

The country’s IPO boom has made it one of the largest listing venues in Europe, the Middle East and Africa, with 56 companies completing the process so far this year to raise a total of about 79.8 billion liras ($2.7 billion).