Latest Updates from BIST Companies: Investment from NTHOL, Code Change at QNBFL, and Stocks Under Cautionary Measures
You can check out our updated company news summary prepared based on the announcements made by companies listed on Borsa Istanbul in the continuation of our content. Net Holding (NTHOL) draws attention with its new investment in Bulgaria, while Şişe Cam has begun new negotiations in line with its international expansion goals. Gelecek Varlık Yönetimi has gained a significant tender in the receivables sale of Garanti Bankası (GARAN).
New Investment by Net Holding in Bulgaria: Merit Zenith
Net Holding has added another investment in Bulgaria. The opening of the Merit Zenith gaming hall, located within the Marinela Hotel in Sofia, the capital of Bulgaria, was completed today. The luxurious renovated hall covers an area of 3,500 m² and includes 142 slot machines and 34 live gaming tables. Additionally, the facility will operate an indoor parking lot with a capacity for 100 vehicles.
This investment marks Net Holding A.Ş.'s second venture in Bulgaria. It demonstrates the ongoing interest and investment in the country following their first investment location, Merit Grand Most Hotel & Casino in Svilengrad. The company expects an increase in Earnings Before Tax, Interest, Depreciation, and Amortization (EBITDA) from revenue generated by Merit Zenith.
Aydem Yenilenebilir's Electricity Production Report
Aydem Renewable Energy A.Ş. (AYDEM) has shared its electricity production data for the period ending October 2024. It has been determined that there was a 5% decrease in electricity production compared to the previous year. The company, which emphasizes transparency and the flow of information, expressed satisfaction about sharing this data with investors and other stakeholders.
The company continues to provide real-time production data from its power plants through the EPİAŞ Transparency Platform. Aydem's approach aims to help better understand the developments in the sector.
Akfen Yenilenebilir's YEKDEM Application
Akfen Renewable Energy (AKFYE) has completed its application for the Renewable Energy Resources Support Mechanism (YEKDEM) for its licensed facilities that produce electricity from renewable energy sources. This application, made to the Energy Market Regulatory Authority (EPDK) for a total installed capacity of 465.99 MW for the year 2025, stands out as one of the company's strategic steps.
It is noted that power plants that have expired in the YEKDEM scheme will sell the electricity they produce at the market clearing price, with 70% of the coverage for YEKDEM secured for the year 2025. The company has the flexibility to make new decisions for subsequent years according to developments throughout the year.
QNB Finansal Kiralama's Code Change
QNB Finansal Kiralama A.Ş. is changing its trading code. The current trading code "QNBFL" for the company listed on Borsa Istanbul will be updated to "QNBFK" as of December 2, 2024. This change is an important update related to the company's presence on the pre-market trading platform.
The code change plays a critical role in informing and guiding investors. Therefore, it is recommended that investors note the new code and update their transactions accordingly.
Şişe Cam Begins Negotiations with Ciner Group
Şişe Cam has started negotiations to acquire Ciner Group's stakes in Şişecam (SISE) Wyoming and Pacific Soda companies. The company has initiated processes for this acquisition, aiming for leadership in the soda ash production sector, with a total deal value of 285 million 389 thousand US dollars.
This initiative is regarded as an important step towards strengthening Şişe Cam’s global structure, which operates across four continents, and enhancing its regional effectiveness. The company's headquarters is authorized to carry out the necessary transactions throughout the process.
Garanti Bankası's Bond Buyback Offer
Garanti Bankası has accepted requests for two bond buyback offers. The buyback offer for a bond with a nominal value of 750 million dollars maturing in 2027 was announced on November 21, 2024. A total of 134 million 248 thousand US dollars in requests were accepted during the process.
The accepted bonds for the buyback will be canceled, leaving 615 million 752 thousand dollars in nominal unpaid bonds. This process will contribute to the coordination of the bank's capital structure and the implementation of its financial strategies.
Gelecek Varlık Yönetimi Wins Tender for Garanti Bankası's Receivable Sale
Gelecek Varlık Yönetimi A.Ş. (GLCVY) has won a tender for an individual portfolio in Garanti Bankası's overdue receivables sale. The sale encompasses a portfolio with a total principal size of 324.4 million TL. A total of 16 asset management companies participated in the tender, which will proceed after the approval of the bank's board of directors.
This step is seen as part of Gelecek Varlık Yönetimi's strategic growth plans. Following the approval, the contract signing process and the transfer of receivables will commence.
İhlas Holding's Natural Gas Power Plant Project in Kyrgyzstan
İhlas Holding (IHLAS) and its subsidiary Central Asia Investment Holding have signed a memorandum of understanding for the establishment of a natural gas power plant in Kyrgyzstan. This agreement, an important step for the construction of a power plant with a capacity of 250 MW, includes significant partners such as POWERCHINA International Group Limited and SemArco LLP.
This project illustrates İhlas Holding's innovative steps in international energy sector investments. The partnering companies have successfully implemented numerous energy and infrastructure projects in various countries previously.
VBTS Measures Implemented for Stocks
New measures are being implemented for IHGZT and YESIL stocks under the Volatility-Based Precautionary System (VBTS). Starting from December 2, IHGZT stocks will be subject to a gross settlement application until the end of the year.
Similarly, YESIL.E stocks will not be eligible for leveraged transactions from the beginning of the session during that same period. These measures are considered preventive steps towards stock volatility.