Significant Business Agreements Between KBORU and FORTE
Kuzey Boru A.Ş. (KBORU) and Forte Bilgi İletişim Teknolojileri ve Savunma Sanayi A.Ş. (FORTE) kicked off the week by announcing significant business agreements. Both companies aim to expand their operational volumes through successful agreements obtained domestically and internationally, making significant strides in their sectors. Kuzey Boru contributes to its growth through infrastructure projects, while FORTE stands out with its support for educational technologies.
Kuzey Boru attracts attention with important sales contracts signed today. The company secured an agreement worth 155 million TL (including VAT) for the "Infrastructure Drinking Water and Sewerage Construction Pipe Procurement" project within Turkey. Internationally, it signed a contract worth 2,427,120 dollars (approximately 83,481,035.11 TL) with the UK and Iraq for an "Infrastructure Pipe Procurement" project. The total value of these contracts amounts to 238,481,035.11 TL, which is expected to lead to a 5.23% increase in Kuzey Boru's sales target for 2024.
With the positive impact of this agreement, KBORU shares started the week with an increase of over 7.5%, climbing towards 90 TL. In the following hours, the stock partially retreated and is currently trading around the 86 TL range in the last hour. The stock has shown positive momentum since mid-October, gaining approximately 27% over the past month. KBORU, which went public last December, has continued to increase in value by 118% since its IPO.
Forte Bilgi İletişim Technologies and Defense Industries Inc. has won a significant tender under the "Safe Schooling and Distance Education Project," funded by the World Bank and managed by the General Directorate of Innovation and Educational Technologies of the Ministry of National Education. The company has been awarded the first lot (10,700 sets) for the "Procurement of 32,500 All-in-One Desktop Computer Sets," with a contract value of 6,184,600 dollars excluding VAT. This development is seen as a sign that FORTE will continue to contribute to educational technologies.
With this development, FORTE shares started positively this week. The stock rose by over 8% at the opening, reaching a peak of 52.25 TL before slightly retreating towards the 50 TL level. The stock has increased by 20% over the past month, making another move to reverse the overall downward trend. FORTE has continued its downward trend since August of last year and has lost approximately 25% in value since the beginning of the year.