Capital Markets Updates
- As per the Weekly Bulletin of the Capital Markets Board, the Board has approved the prospectuses of Bursa Cimento Fabrikasi and Ihlas Holding with regards to their share capital increases in the amount of TL 320 million and TL 709.6 million, respectively. Accordingly, such capital increases will be realized through rights issues. It has been further stated that the share capitals of each Company will reach TL 500 million and TL 1.5 billion, respectively as a result of such capital increases. Moreover, the newly issued shares are planned to be offered to public.
- As per the Weekly Bulletin of the Capital Markets Board, the Board has approved the issuance certificate of Akfen Gayrimenkul Yatirim Ortakligi with regards to its share capital increase in the amount of TL 101,580,136. Accordingly, such capital increase will be realized through rights issues. Following completion of the capital incrase, the share capital of the Company will reach TL 344,646,332. Moreover, the newly issued shares are planned to be sold via private placement.
- Pursuant to the Weekly Bulletin of the Capital Markets Board, the Board has approved the issuance certificates of Mercedes-Benz Finansman Turk for bonds/financial bills with a nominal issuance ceiling of TL 2 billion and Ziraat Bankasi for bonds/financial bills and restructured debt instruments with nominal issuance ceilings of TL 15 billion and TL 2.5 billion, respectively. It has been further stated that such debt instruments are planned to be sold to qualified investors and/or via private placements.
- In line with the Weekly Bulletin of the Capital Markets Board, the Board has approved the issuance certificate of Halk Varlik Kiralama for management agreement-backed lease certificates with a nominal issuance ceiling of TL 200 million. It has been further stated that such instruments are planned to be sold to qualified investors.
- According to the Weekly Bulletin of the Capital Markets Board, the Board has approved the issuance certificate of Aktif Bank Sukuk Varlik Kiralama for partnership-backed lease certificates with a nominal issuance ceiling of TL 450 million. It has been further stated that such instruments are planned to be sold to qualified investors.
- The Capital Markets Board has brought novalties to alleviate the difficulties created by the Covid-19 pandemic in the business and transactions of companies. Within the novalties, details of which are announced in the Weekly Bulletin of the Capital Markets Board, it is aimed to provide flexibility to the companies planning to go public, to allow brokerage companies to examine such more comprehensively, to prevent the initial public offering transactions from being stuck within certain schedule ranges and to extend the review period by the investors of the prospectuses of the companies whose shares will be offered to the public for the first time.
- According to the announcement made in the official website of the Competition Authority, the Board has granted its permission for the acquisition of the shares representing 35% of the share capital of BluTv Iletisim ve Dijital Yayin Hizmetleri by Discovery Communication Europe Limited a wholly owned subsidiary of Discovery Inc.
- According to the announcement made in the official website of the Competition Authority, the Board has granted group exemption to the Franchise Agreement by and between Marka Magazacilik, GAP Europe Limited, GAP Inc. and Banana Republic Inc.
- Pursuant to the dailies, Samvardhana Motherson Reflectec, one of India’s largest automotive sub-industry companies with its 114,000 employees, applied to the Turkish Competition Authority to acquire a majority stake in mold and lighting manufacturer based in Istanbul and Bursa namely, Plast Met. It has been further stated that the Indian Company will pay Euro 21.8 million, or approximately TL 200 million, for a 75% stake in Plast Met.
Energy Sector News
- In line with the dailies, Borusan EnBW Enerji, has completed its recent investment within its goal of developing renewable energy installations in Turkey. Accordingly, the Company has increased the installed capacity of Kiyikoy Wind Power by 20 MW via adding 72 turbines, making the total installed power of the plant 100 MW. It has been further stated that the Company’s total installed capacity is expected to reach 725 MW with the completion of the portfolio projects that are ongoing in the first quarter of 2021.
- As per the dailies, Zorlu Enerji is turning the Alasehir Geothermal Power Plant located in Manisa into a hybrid power plant via installing a 3.58 MWp solar power plant. Accordingly, with the project, approximately 300 tons of carbon dioxide gas emissions will be prevented. It has been further stated that the Company is planning a more efficient and effective use of its resources in project facilities in Turkey via combining forms of renewable energy production.
- According to the dailies, Dubai-based Masterbaker Marketing FZCO, who has completed its first investment in Turkey via acquiring 50% of Mildo Food and is now manufacturing pie, sauce, cake mix produces to Turkey and Europe via Mildo Food, has become a partner of Arolez Gida, a 35-year-old ice cream and pastry company. It has been further stated that via such strategic partnership, Masterbaker Marketing FZCO is planning to strengthen its market position in Turkey.
- In line with the dailies, one of the leading companies in the factoring and fintech sector, Tam Finans and the financial services company, eLogo have implemented an application that allows Logo users to convert their invoiced checks and receivables into cash more easily. Accordingly, the businesses using the application will be able to inquire about the conversion of their postpaid checks and postpaid receivables into cash through their existing ERP (enterprise resource planning) solutions.
- Pursuant to the dailies, the world’s third largest smartphone manufacturer Xiaomi has announced that it will start smartphone production in Turkey wit an investment amounting US$ 30 million in the first quarter of 2021. The new production facility of the Company to be located in Istanbul is expected to employ approximately 2,000 employees in 14,000 m2
- As per the dailies, Fibabanka continues to grow its innovation, digital and financial transformation investments by supporting the entrepreneurship ecosystem with its corporate venture capital company established in 2018 namely, Finberg. It has been further stated that Finberg has recently invested in Getir, a growing delivery company, making the total fund size of Finberg exceed TL 100 million.
- In line with the dailies, white appliances manufacturer of China namely, Haier, has made a new investment in Eskisehir with an amount of Euro 40 million. Within the scope of such investment, approximately 1,000 people are planned to be employed, with an annual production of 1 million dryers.