Istanbul: The founding family of Turkey’s largest conglomerate, Koc Holding, is selling shares worth nearly $480 million (Dh1.7 billion) in the firm, according to a statement filed to the Istanbul Stock Exchange on Thursday. Koc Holding has interests in banking, automotive and white goods companies and operates Turkey’s sole refiner Tupras. The sale comes as Turkish equity prices have powered to record highs, buoyed by strong performances in overseas markets. Members of the Koc family are selling a 4.22 per cent stake in the conglomerate, with the price set at 15.87 lira per share, according to the statement. That values the stake at 1.7 billion lira ($478.23 million). The founding family will retain more than 11 per cent of the company.