Is Yatirim, the brokerage arm of Turkey's largest bank, Is Bank, priced near the top of its initial public offering range signalling a surge of interest in the country after Turkey's largest float last week.

The float, which values the broker at $1bn (€740m), saw 26% of the lender sold to foreign and domestic investors. The issue priced at 2.8 lira, near the top of its 2.4 to 3 lira range and was 15 times oversubscribed. Bankers say the heavy demand indicates interest in the country is set to continue.