A total of 114 companies have made bids to acquire shares in the company that will be founded to manage Turkey’s new energy bourse, the head of the country’s energy watchdog has announced.

Energy Market Regulation Board (EPDK) Chairman Mustafa Yılmaz said 114 electricity and natural gas companies that want to own stakes in the Energy Markets Business Corporation (EPİAŞ) have applied to the EPDK.

EPİAŞ is designated to serve as the sole energy exchange of Turkey and will be integrated into Borsa Istanbul, the umbrella institution that all the exchanges in Turkey operate within.

While the Turkish Electricity Transmission Company (TEİAŞ) and Borsa Istanbul, will own 30 percent each, the remaining 40 percent portion of the bourse will be allocated to the private sector.

In a written statement released , Yılmaz said 100 of the applicant companies operate in electricity sector, while 14 of them are natural gas firms.