Merger at Selçuk Gıda, Delayed Receivables Sale by YKBNK, and Precautionary Measures for ARTMS: Latest Updates from BIST Companies
You can find our summary of the latest company news prepared based on the notifications of companies traded on Borsa Istanbul below.
Selçuk Gıda is merging with Dünya Yatırım Holding
Selçuk Gıda Endüstri İhracat İthalat A.Ş. (SELGD) has decided to merge with Dünya Yatırım Holding A.Ş. In this process, Selçuk Gıda has taken action to acquire all assets and liabilities of Dünya Holding. The merger will be carried out in accordance with the Turkish Commercial Code No. 6102 and the Capital Markets Law No. 6362. Additionally, necessary approvals will be obtained from the Capital Markets Board for the merger, and the merger agreement will be approved at the general assembly.
Selçuk Gıda will base the merger process on financial statements dated June 30, 2024. A capital increase will be made within the framework of the merger, and shares will be distributed to Dünya Holding shareholders in a certain ratio. According to the determined ratios, a certain amount of shares from Selçuk Gıda will be given for each share of Dünya Holding with a nominal value of 1 TL. As a result of these transactions, Selçuk Gıda's capital will increase by 19,892,145.93 TL, and shares of the same amount will be allocated to Dünya Holding shareholders.
Yapı Kredi sells its overdue receivables
Yapı Kredi Bankası (YKBNK) has decided to sell its overdue receivables to various asset management companies. The bank's total receivables amounted to 1,736,310,594.38 TL as of September 30, 2024, and a total of 421,100,000 TL will be sold to various companies, including Denge Varlık Yönetim A.Ş., Emir Varlık Yönetim A.Ş., and EPS Varlık Yönetim A.Ş.
This decision was made in line with the bank's risk management and financial sustainability strategies. With this step, Yapı Kredi aims to improve its risk profile on the balance sheet and increase its liquidity.
Inveo Portföy's share transfer rejected by the Capital Markets Board
The application for the transfer of 25% of Inveo Portföy's management to Kanyon Kapital was negatively assessed by the Capital Markets Board. In previous announcements, it was planned to sell 7,500,000 shares representing 25% of Inveo Portföy's capital to Kanyon Kapital.
The Capital Markets Board's negative opinion on this request has disrupted the planned share transfer for Inveo Portföy.
ARTMS shares will not be used in margin trading
A new regulation has been introduced for ARTMS shares traded on Borsa Istanbul. Under the Volatility-Based Precautionary System (VBTS), (IS:ARTMS) shares will not be used in margin trading from November 14, 2024, until December 13, 2024.