31.0% of Akbank stocks are publicly traded and listed on the Istanbul Stock Exchange (ISE), while the Bank's Level 1 ADRs are traded on the OTC market in the USA.
Under the American Depository Receipt (ADR) programme, each American Depository Share (ADS) represents two underlying ordinary shares. However, due to the new Turkish tax regime which came into effect on January 1, 2006, effective December 30, 2005, all Turkish DR facilities are suspended for deposits/issuances, physical DR transfers and cancellations/withdrawals until further notice, by the Bank of New York. More information on this issue can be demanded from The Bank of New York which is the Depository Bank for our ADR's. The contact details for The Bank of New York is given below.
James T. Green +44 207 964 6080
Joseph Oakenfold +44 207 964 6419
Julio Lugo +1 212 815 2122
Mahmoud Salem +1 212 815 2248
For more detailed information on our ADR programme, please visit our Listing and Quotation page.