Price range for Kuveyt Turk IPO due Thurs-sources
ISTANBUL, Jan 31 (Reuters) - The price range for an initial public offering from Turkey-based Islamic lender Kuveyt Turk is expected to be announced later on Thursday, sources familiar with the situation told Reuters.
Kuveyt Turk, Turkey's third-largest Islamic lender by assets which is some 60 percent owned by Kuwait Finance House (KFIN.KW: Quote, Profile, Research), declined to comment.
Another source close to the matter, who also declined to be named, said book-building was expected to take place on Feb. 14-15.
Kuveyt Turk, in which the Islamic Development Bank is also a shareholder, plans to list an 18 percent stake, according to stock market records.
Islamic lending -- which in line with Islamic law does not pay or charge interest -- is growing fast from a low base in mainly Muslim but secular Turkey.
(Reporting by Mustafa Yukselbaba)
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