The Turkish government has pushed ahead with the $1.9bn (€1.4bn) float of state-owned lender Halkbank despite a clash this week between the military and the government that threatened to ignite the most serious political crisis in a decade.

Demand for Halkbank's initial public offering soared to seven times the number of available shares, defying reports this week that the float would be cancelled. Halkbank director Huseyin Aydin has said it will "proceed with caution".