Aksa Enerji, Dogus GE GYO, Petkim: 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 rose 1,603.42, or 2.4 percent, to 67,607.90 yesterday.

Aksa Enerji Uretim AS (AKSEN TI): Turkey’s asset sales agency may hand over control of the eastern Firat electricity grid to Aksa Elektrik Perakende Satis AS on Thursday, Sabah newspaper reported, without saying how it got the information. Aksa Elektrik, which belongs to the same Kazanci Holding group of companies as Aksa Enerji, placed the highest bid of $230.3 million for the grid in an auction in Ankara in February last year. Aksa Enerji rose 16 kurus, or 3.2 percent, to 5.22 liras.

Dogus GE Gayrimenkul Yatirim Ortakligi AS (DGGYO TI): General Electric Co. completed the sale of a 25.5 percent stake in the Turkish real estate investment company to Dogus Holding AS for $28 million, according to statements that GE and Dogus sent to the Istanbul Stock Exchange after the markets closed yesterday. Dogus said it will apply to the market regulator to make a call to buy Dogus GE GYO shares from minority shareholders. Dogus GE GYO was unchanged at 1.72 liras.

Petkim Petrokimya Holding AS (PETKM TI): Turkey’s biggest chemicals maker, was rated “new buy” at Bank of America Merrill Lynch. Petkim rose 4 kurus, or 1.7 percent, to 2.42 liras.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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