Exciting Updates from BIST Companies: Auctions from BRKVY and GLCVY, Partnership with ATATP, and New Collaboration from PATEK
You can check our updated company news summary, prepared based on the notifications made by companies traded on Borsa Istanbul, in the continuation of our content.
Birikim and Gelecek Asset Management won a bid from Yapı Kredi Bank Birikim Asset Management Inc. (BRKVY) achieved a significant success by winning 2 individual qualified portfolios at the highest bid in Yapı Kredi Bank's (YKBNK) auction for the sale of non-performing loans held on October 31, 2024. The total principal size of the portfolios put up for sale was announced as 283.2 million TL, with 10 different asset management companies participating in the auction. The finalization of the auction results will be subject to the approval of Yapı Kredi Bank's Board of Directors. Similarly, Gelecek Asset Management (GLCVY) also succeeded in winning 2 individual portfolios in another auction for non-performing loan portfolios held on the same date. Gelecek Asset presented the best bid for two portfolios with a total principal size of 283.2 million TL out of 12 portfolios put up for sale. A total of 11 asset management companies competed in this auction, and the auction results will be finalized after the bank’s board approval.
GSD Asset Management won a commercial portfolio auction GSD Holding's (GSDHO) fully owned subsidiary, GSD Asset Management Inc., achieved a significant commercial success by winning the auction for a commercial/SME qualified portfolio with a principal amount of 194 million TL put up for sale by Yapı Kredi Bank on October 31, 2024. A total of 11 asset management companies participated in the auction, and the results will be finalized and transfer processes initiated after the bank's Board of Directors approval.
MMC Sanayi aims to grow in internet journalism MMC Sanayi's fully-owned subsidiary, Dijital Endeks Publishing Inc., has begun preliminary negotiations to acquire an internet news site operating in Turkey. MMC Sanayi ve Ticari Yatırımlar A.Ş. (MMCAS) aims to advance its growth strategy in the digital media sector with this move. Details and progress of the acquisition process will continue to be shared with the public and investors.
Ulusoy Un invested in an Italian pasta manufacturer Ulusoy Un (ULUUN) has added another strategic investment abroad by acquiring an 85% stake in Italian pasta manufacturer Pastificio Mediterranea. In this investment, shares with a nominal value of €850,000 were acquired by the company for €5,298,579.78. Pastificio Mediterranea is known as an established firm that has been producing high-quality pasta in Italy's Silvano d'Orba region since 1908.
ATP Software partnered with Alibaba Cloud ATP Software (ATATP) signed a significant distribution agreement with Alibaba Cloud, the cloud computing division of Chinese tech giant Alibaba Group, for the marketing, sales, distribution, and support services of cloud computing solutions in Turkey. With this agreement, ATP Software aims to deliver Alibaba Cloud's infrastructure, which is offered in 29 geographical regions and 87 availability zones worldwide, to customers in Turkey. The agreement is expected to accelerate digital transformation projects in Turkey and expand the company's solution portfolio.
Pasifik Teknoloji collaborates with the defense industry presidency TİTRA Technology Inc., a subsidiary of Pasifik Donanım ve Yazılım Bilgi Teknolojileri A.Ş. (PATEK), has initiated contract processes for the procurement of the ALPİN-2 Unmanned Helicopter with the Presidency of Defense Industries of the Republic of Turkey. Developments regarding the contract signing phase and other detailed processes will be announced to investors and the public.
TSKB increased its loan portfolio by 11.5% As of the third quarter of 2024, Turkey Industrial Development Bank (TSKB) increased its total asset size to 221 billion TL, while simultaneously raising its currency-adjusted loan portfolio by 11.5% to reach 167 billion TL. The bank continues to contribute to sustainable development goals with its loan supports for climate financing and renewable energy projects. In the third quarter of the year, TSKB achieved a return on equity of 37.4% and maintained a capital adequacy ratio of 25%.
Brisa reached a turnover of 24 billion TL in the first nine months Brisa (BRISA), one of the leaders in Turkey's tire sector, reached a total turnover of 24 billion TL in the first nine months of 2024. The company, which draws attention with its innovative products and services aligned with mobility trends in the domestic market, continues to strengthen its position in both the retreading market and the original equipment (OE) tire market. Brisa expanded its market share in a total of 21 countries by increasing sales with its Lassa brand in Central Europe, Western Europe, and North Africa. The gross profit recorded by the company in the first nine months was 5.5 billion TL, while EBITDA was noted as 3.6 billion TL.