A Story of an Initial Public Offering without an Established Capital Market Infrastructure: HASTA？ Corporation

There has been an increase in the number of private sector enterprises with the swift towards liberal economic policies in Turkey from the 1950s. Thus, a demand for capital came into agenda during the same years. Private sector enterprises began to discover capital markets after the 1960s. However, there have been some abuses because of the lack of capital markets legal and corporate infrastructures. This study focuses on the initial public offering stages of Hasta？ Corporation to understand the background of the events and evaluate its effects towards the development of capital markets in Turkey