VERUS and INVES Make Buyback Decisions: Latest Updates on Restricted Stocks from BIST Companies
You can find the current company news summary prepared based on the notifications made by companies traded on Borsa Istanbul in the continuation of our content.
Kafein Software Accepted into e-Turquality Program
Kafein Software (KFEIN) has been accepted into the e-Turquality program conducted by the Ministry of Commerce of the Republic of Turkey. This program is known as a significant initiative that promotes the development of Turkey's information and technology sectors and enhances competitiveness in international markets. The company aims to accelerate its innovation efforts within this scope by November 14, 2024.
As part of the e-Turquality program, Kafein Software aims to contribute to the global promotion of Turkey's information sector. This initiative will enable the company to take a more active role in international markets and enhance its regional power.
Verusa Holding Completes Share Buyback Program
Verusa Holding (VERUS) has successfully concluded its share buyback program initiated on May 11, 2022. Between May 23, 2022, and October 22, 2024, the company repurchased a total of 3,304,201 VERUS shares for a total value of 411,102,397.50 TL. The buyback transactions were carried out within a price range of 55.65 TL to 310.50 TL, with an average payment of 124.418 TL.
As a result of these transactions, the share of Verusa Holding's own equity was calculated at 4.7203%. The company ended the program following the completion of the 2023 Ordinary General Assembly in accordance with the principle decision taken by the Capital Markets Board.
Investco Holding Ends Share Buyback Program
Investco Holding (INVES) has completed its share buyback program that was initiated on December 28, 2023. Between December 28, 2023, and October 21, 2024, the company repurchased 875,211 INVES shares within a price range of 232.50 TL to 335.00 TL. The total amount paid by the company for these transactions was 263,334,210.00 TL.
The ratio of the repurchased shares to the company's capital was determined to be 0.4668%. Investco Holding concluded the buyback program with the completion of the 2023 Ordinary General Assembly, in line with the principle decision taken by the Capital Markets Board.
Altınkılıç Food to Vote on Share Buyback Program
Altınkılıç Food (ALKLC) plans to submit its share buyback program for approval at an extraordinary general assembly. According to a decision made at the Board of Directors meeting on November 15, 2024, it is envisioned that the buyback will be limited to a maximum of 11,200,000 shares, with a total fund allocation of 336,000,000 TL. The buyback program is being prepared in accordance with the Turkish Commercial Code and relevant Capital Markets Board regulations.
The draft program prepared by the board will be discussed and submitted for approval at the extraordinary general assembly meeting to be held on December 20, 2024. If approved, the program will be valid for a maximum of one year. This process aims to protect shareholder value and establish a stronger stance against fluctuations in the stock market.
MLP Health Services Announces Debt Instrument Issuance
MLP Health Services (MPARK) announced its decision to issue debt instruments with a nominal value of 5 billion TL. This decision was made in accordance with the Capital Markets Board's Debt Instruments Communiqué No. II-31.1. The issued debt instruments will be denominated in Turkish Lira and will be sold to qualified investors within the country.
This instrument, which is planned to have a maturity of up to 5 years, aims to strengthen the company's financing structure and attract investor interest. MLP Health Services aims to support its growth strategies and achieve sustainable financial performance through this step.
Martı Hotel Operations Expects Growth for 2025
Martı Hotel Operations (MARTI) drew attention with the recorded increase in accommodation and overnight stay numbers for the 2024 season. Particularly influenced by visitors from key markets such as Germany, the UK, and Russia, the company's revenue increased by 35% in euro terms and 86% in Turkish Lira terms. Exceeding last year's expectations, the company has strengthened its financial indicators.
Expectations for the 2025 season are positive. The company anticipates an increase of over 15% in overnight stays. Demand from the German, British, and Polish markets is expected to continue, along with momentum in the Russian market. It is anticipated that ongoing demand growth in traditional markets will be sustainable, positively reflecting on financial indicators.
Albaraka Türk Announces 9-Month Financial Results
Albaraka Türk (ALBRK) reported a net profit of 4,544,493,000 TL in the first nine months of 2024. The bank had reported a net profit of 3,218,283,000 TL in the same period of the previous year.
VBTS Measures Applied to Two Stocks
Borsa Istanbul decided to temporarily ban credit transactions for the stocks CEOEM and SURGY under the Volatility-Based Measures System (VBTS). This measure will be effective from the transactions dated November 18, 2024, until the end of transactions on December 17, 2024, based on the decision of the Capital Markets Board. The measure will prevent the buying and selling of the shares on credit during the specified dates.