OTTO's Submarket Application, ISDMR's Insurance Agreement, AZTEK's New Deal: Latest Updates from BIST Companies

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OTTO's Submarket Application, ISDMR's Insurance Agreement, AZTEK's New Deal: Latest Updates from BIST Companies

Among the recent developments in Borsa Istanbul, Otto Holding has applied to be listed on the Alternative Market, while Isdemir has reached an insurance compensation agreement amounting to 360 million dollars following the earthquake. Additionally, Aztek Technology has become the exclusive distributor of Boompods in Turkey.

Otto Holding has applied to transition to the Alternative Market
Otto Holding A.Ş. (OTTO) has officially submitted its application to trade on the Alternative Market with the aim of reaching a broader investor base. The company's board of directors determined during its meeting numbered 20 on November 18, 2024, that all conditions related to the current Quotation Directive for the transition to the Alternative Market have been met. Following this assessment, it was decided to submit an application to Borsa Istanbul for the transition of its shares to the Alternative Market. This application has been completed today in line with the decision made by the board of directors.

Significant step in Isdemir's insurance process: Compensation agreement reached
Following the earthquake on February 6, 2023, İskenderun Demir ve Çelik A.Ş. (ISDMR) has secured a new agreement regarding the damage compensation to be collected from insurance companies. In previous disclosures shared with the public, it was mentioned that a total of 205 million US dollars had been collected through two separate advance payments from insurance companies on October 25, 2023, and March 11, 2024. With the new agreement, an additional 155 million US dollars will be received, bringing the total collected amount to 360 million US dollars. Isdemir plans to fully collect this amount by the end of the year.

Aztek Technology has become the distributor of Boompods in Turkey
Boompods EU Sp. z o.o. has appointed Aztek Technology as the exclusive distributor of headphones, speakers, and mobile device accessory products in Turkey. Under the agreement effective from November 18, 2024, Aztek Teknoloji Ürünleri Ticaret A.Ş. (AZTEK) will be responsible for the sales and distribution of Boompods products through various channels, including duty-free areas at airports in Turkey. This distribution agreement will provide Aztek Technology with significant market expansion while offering consumers access to a broader range of products.