Turkey Stocks: Adese Alisveris, Akcansa, Cimsa Cimento Move

Turkey’s benchmark ISE National 100 Index (XU100) rose 1.4 percent to 56,522.77 at the 5:30 p.m. close in Istanbul.

The following stocks were active.

Adese Alisveris Merkezleri Ticaret AS (ADESE TI), a Turkish retail chain owned by Ittifak Holding AS (ITTFH TI), fell 4.4 percent to 7.42 liras on its first trading day, from a reference price of 7.76 liras announced by the bourse on Nov. 1. Adese sold 8.82 million shares, or a 29 percent stake, for 68 million liras ($39 million), meeting all of the demand in an initial public offering last month.

Akcansa Cimento Sanayi & Ticaret AS (AKCNS TI), a Turkish cement maker owned by Heidelberg Cement AG (HEI GR) and Haci Omer Sabanci Holding AS (SAHOL TI), surged 5.1 percent to 7.06 liras, its highest in a month, after its third-quarter profit rose to 33.6 million liras, exceeding estimates.

Cimsa Cimento Sanayi & Ticaret AS (CIMSA TI), a Turkish cement maker, jumped 3.9 percent to 7.96 liras, the highest level in three months. Third-quarter profit rose to 47.1 million liras from 31.2 million liras a year earlier, it said in a statement to the bourse after the close yesterday. Profit was seen at 36.5 million liras, the average of seven analysts’ estimates compiled by Bloomberg.

Turkcell Iletisim Hizmetleri AS (TCELL TI), Turkey’s biggest mobile-phone company, jumped 7.8 percent to 9.38 liras, the biggest increase in three months. The board of directors of Turkcell Iletisim Hizmetleri AS, Turkey’s biggest mobile-phone company, “has the desire” to complete board issues by the end of this year and the company will become “more powerful” with a new board that includes independent members, chief executive Sureyya Ciliv said. Turkcell will consider a share buyback plan after a new board is in place, Ciliv said in an interview in Istanbul today.

Yapi & Kredi Bankasi AS (YKBNK TI), the Turkish bank owned by UniCredit SpA and Koc Holding AS (KCHOL) , dropped 0.3 percent to 3.34 liras. Third-quarter profit fell 31 percent to 406.1 million liras, missing estimates, the bank said in a statement to the Istanbul Stock Exchange today. The bank was expected to earn 434.1 million liras, according to the average of 11 analyst estimates compiled by Bloomberg.

To contact the reporters on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net; Selcuk Gokoluk in Istanbul at sgokoluk@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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