Alarko, Aygaz, Koc, Isbank, Tofas: Turkey Equity Market Preview
The following stocks may be active in Turkey. Symbols are in parentheses and prices are from the last close.
Turkey’s benchmark ISE National 100 index gained 1,278.69, or 2 percent, to 65,350.85 yesterday.
Alarko Holding AS (ALARK TI): The group with interests in construction, energy, real estate and tourism, bought a 50 percent stake in power generator Altek from Societe Nationale d’Electricite et de Thermique SA, its partner in Altek, for $58.5 million, according to a filing with the Istanbul Stock Exchange late yesterday. Alarko climbed 1 kurus, or 0.3 percent, to 3.38 liras.
Koc Holding AS (KCHOL TI): Turkey’s biggest group of companies will partner AES Corp in energy after Koc unit Aygaz AS agreed to sell a 49.6 percent stake in power producer Entek Elektrik Uretimi AS to AES for $136.5 million, according to a filing with the exchange today. Koc rose 6 kurus, or 0.9 percent, to 7.06 liras.
Tofas Turk Otomobil Fabrikasi AS (TOASO TI): The maker of Fiat SpA cars in Turkey had its price estimate raised to 10.8 liras from 8.5 liras at Nomura, according to an e-mailed report today. Tofas rose 70 kurus, or 9.8 percent, to 7.88 liras.
Turkiye Is Bankasi AS (ISCTR TI): The country’s biggest bank by assets will apply to regulators to sell as much as 5 billion liras ($3.3 billion) of bonds in the domestic market, it said in a filing with the exchange today. Is Bank didn’t say when it might sell the bonds. The bank rose 16 kurus, or 2.8 percent, to 5.82 liras.
To contact the editor responsible for this story: Peter Hirschberg in Jerusalem at email@example.com.