ISTANBUL, July 21 (Reuters) - A member of the founding family of Turkey’s Sabanci Holding has elected to sell a 2.5 percent stake in the industrial and financial conglomerate on the Istanbul stock exchange, a regulatory filing showed on Friday.
Ozcan Sabanci has applied to sell 51.5 million shares in Turkey’s largest conglomerate, according to the filing. The shares were worth around 589 million lira ($167 million) as of Thursday’s close.
The sale would be the latest by a member of the Sabanci family since Turkey’s BIST index started hitting record highs this year. In May the Sabancis and the founding family of rival conglomerate Koc Holding sold a combined $580 million in shares of their firms. ($1 = 3.5267 liras) (Reporting by Can Sezer and David Dolan; Editing by Ece Toksabay)