Suspended Stocks, Tender from TCKRC, DAPGM to Meet for Buyback: Latest Updates from BIST Companies
You can find our updated company news summary based on the notifications made by companies traded on Borsa İstanbul in the continuation of our content.
Kıraç Galvaniz wins tender in Kocaeli
Kıraç Galvaniz (TCKRC) has won the contract for the removal of damaged road barriers and the construction of new road barriers across Kocaeli. This significant tender, valued at 104 million 720 thousand 920 TL, will conclude on November 4, 2024, and has been awarded to Kıraç Galvaniz. The company announced that it would inform the public regarding the final contract process once the decision becomes final.
This project will be carried out in eight different phases throughout the city of Kocaeli. By undertaking such a large project, Kıraç Galvaniz has once again demonstrated its competence in this field. Such projects are expected to make significant contributions to the city’s infrastructure and safety.
DAP Real Estate to hold extraordinary general assembly
DAP Gayrimenkul (DAPGM) will convene an Extraordinary General Assembly to discuss its share buyback program. In accordance with the decision taken at the company’s Board of Directors meeting on November 12, 2024, preparations for a general assembly have been initiated under the Capital Markets Board's Regulation on Repurchased Shares.
The Board of Directors will be authorized regarding the implementation and management of the buyback program. DAP Gayrimenkul aims to protect the rights of investors in the best possible way within the framework of the relevant legislation.
Orge Enerji to showcase charging units at EV Charge Show
Orge Enerji Elektrik Taahhüt A.Ş. (ORGE) will promote its investments in renewable energy at the Electric Vehicle Charging Technology and Equipment Fair. Scheduled to take place from November 13-15 at the Istanbul Fair Center, the EV Charge Show will be the first platform to introduce Orge Enerji’s electric vehicle charging units to the public.
Share transfer agreement at Ulusal Faktoring
Shareholders of Ulusal Faktoring (ULUFA), İzak Koenka and Kurt Korkut Jolker, have signed a binding agreement to acquire shares owned by PineBridge Eurasia Financial Investments. Under this agreement, announced on November 12, 2024, a total of 2,500,000 B group shares will be acquired for 1,700,000 USD.
This transfer will be carried out subject to various conditions, including approval from the Banking Regulation and Supervision Agency. Ulusal Faktoring aims to offer a strong financial structure to its investors with this significant share transfer.
Çimsa to increase capacity at Mersin plant
Çimsa Çimento (CIMSA) has decided to increase the capacity of the Calcium Aluminate Cement (CAC) production facilities at its Mersin plant. In line with its growth strategy in sustainable building materials, a budget of 31 million 750 thousand dollars has been allocated for this decision.
The company plans to start the investment by obtaining the necessary permits in the last quarter of 2024 and complete it in the first half of 2026. This investment is expected to strengthen Çimsa's global position.
Işıklar Enerji offers Çemaş shares for sale
Işıklar Enerji (IEYHO) has put a portion of its shares in Çemaş Döküm (CEMAS) Sanayi ve Ticaret A.Ş. up for sale on Borsa İstanbul. The company anticipates generating 101 million 208 thousand 100 TL from this sale. The proceeds from the sale will be used to pay off the company’s debts to other firms.
This transaction is being conducted in accordance with the Board of Directors’ decision dated May 24, 2024. This step will contribute to reducing the financial liabilities of the company.
Agesa Hayat reports significant increase in premium production
Agesa Hayat (AGESA) experienced a 98% increase in premium production from January to October 2024 compared to the previous year. The company achieved a total premium production of 11 billion 604 million 298 thousand 540 TL in both life and non-life branches, continuing its growth trajectory.
This increase further consolidates Agesa Hayat's strong position in the sector. The company continues its efforts to enhance customer satisfaction and provide quality service.
Legal processes regarding Marmaris Altınyunus hotel project continue
Marmaris Altınyunus (MAALT) filed a lawsuit against the construction suspension decision issued by the Muratpaşa Municipality regarding the reconstruction of the Divan Talya Hotel. The Antalya 4th Administrative Court rejected the request for a stay of execution.
While the lawsuit process continues, company officials are refraining from providing further information on the matter. This situation may lead to delays in the construction process.
Ray Sigorta reports 159% increase in premium production
Ray Sigorta A.Ş. (RAYSG) announced its estimated premium production for the January-October 2024 period to be 23 billion 411 million 886 thousand 939 TL. The company achieved a 159.7% increase in premium production, maintaining its growth momentum.
This increase is indicative of Ray Sigorta's successful adaptation to market dynamics. The company stands out with its effective risk management and customer-focused strategies.
Shares subject to precautionary measures under the VBTS
In line with the decisions of the Capital Markets Board, precautionary measures have been implemented for the shares of KERVN, ADEL, and ISGSY under the Volatility-Based Precautionary System (VBTS). The specified shares will be traded within the determined restrictions from November 13 to December 12.
KERVN shares will be subject to the order package measure. This measure includes restrictions on "the entry of market orders and limit orders," "the prohibition of order cancellation, order quantity reduction, and order price deterioration," and "the restriction of order collection information dissemination."
Additionally, the existing measures previously defined under VBTS (including the prohibition of margin trading and gross settlement measures) will continue during the period when the order package measures are applied. ADEL and ISGSY shares cannot be subject to margin trading.