Polisan Rises to Highest in a Month on Unit’s Foreign License

June 21 (Bloomberg) -- Polisan Holding AS, a Turkish maker of paints and dyes, rose to its highest in almost a month after saying its chemicals unit started talks with foreign companies for a license.

The stock added 1.4 percent to 2.24 liras at 11:40 a.m. in Istanbul after advancing as much as 2.3 percent earlier, poised for its strongest level on a closing basis since the shares began trading on May 25 after an initial public offering.

The unit, which is seeking a license to produce expandable polystyrene, is also looking for cooperation in engineering work for the new product, Polisan said in a statement to the Istanbul Stock Exchange today.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

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