Latest Updates on BIST Companies
You can find the summary of the latest company news prepared based on the notifications made by companies traded on Borsa Istanbul in the continuation of our content. Yeo Technology has made a significant investment decision in Neo Portfolio Management's Cleantech Venture Capital Investment Fund, while İşbir Sentetik has commissioned its new solar power plant. Meanwhile, Borsa Istanbul's introduction of restrictions on certain stocks under the Volatility-Based Precautionary System is attracting investor interest. On the other hand, Batı Ege GYO announced its debt liquidation plans, while Efor Çay (EFORC) made petcoke sales agreements for both domestic and international markets.
Yeo Technology to Invest in Neo Portfolio Management's Cleantech Fund
According to a statement published in the Public Disclosure Platform (KAP), YEO Technology Energy and Industry Inc. (YEOTK) has decided to join the Neo Portfolio Management Inc. Cleantech Venture Capital Investment Fund as a lead investor, in agreement with Neo Portfolio Management Inc. The fund aims to create long-term value by investing in ventures operating in areas such as energy efficiency, energy production, energy storage, waste management, recycling, smart cities, biotechnology, and water resource management.
Yeo Technology has committed to invest 40 million TL within the scope of the fund. This investment will be transferred to the custodial account opened in the company's name in installments. The fund managed by Neo Portfolio Management Inc. plans to provide strategic support to companies developing sustainability-focused technologies.
İşbir Sentetik's Solar Power Plant Receives Temporary Acceptance
With the approval of the Ministry of Energy and Natural Resources, İşbir Susurluk GES power plant has received its temporary acceptance from TEDAŞ General Directorate. The facility located in Susurluk has a total capacity of 9,131.1 KWp.
This acceptance indicates that there are no technical impediments to the commissioning of the facility. İşbir Sentetik Dokuma Sanayi A.Ş. (ISSEN) announced that production will begin after the completion of the final acceptance procedures and that information will be provided to the public during this process.
Debt Liquidation Decisions at Batı Ege GYO
Batı Ege Gayrimenkul Yatırım Ortaklığı A.Ş. (BEGYO) announced in a statement on KAP that it has decided to sell real estate for the liquidation of its debts to its partners. A total of 170 independent units will be sold to Sinpaş Yapı, Deniz Tekstil, and Hürsan Havlu to offset the debts.
In this process, the market value determined by Focus Global Real Estate Valuation and Consulting Inc. will be taken as the basis. The company has decided to collect or pay cash for the receivables or payables arising from these sales.
Efor Çay's Petcoke Agreements
Efor Çay's subsidiary Efor Gübre Madencilik has signed petcoke sales agreements with two firms operating in the domestic market. The sale amounts were set at 58,317,467 TL and 17,943,736 TL, excluding VAT, respectively.
Additionally, Efor Gübre Madencilik has reached an agreement with a company in the United States for the purchase of 50,000 tons of petcoke. This agreement also encompasses a sales contract worth approximately 84,000,000 TL with another company operating abroad. The planned petcoke sales starting in 2025 are expected to significantly contribute to the company's revenue.
Stocks Subject to Precautionary Measures Under the Volatility-Based Precautionary System (VBTS)
Borsa Istanbul announced that under the decision of the Capital Markets Board, shares of DOBUR, ENSRI, and PEKGY will not be subject to margin trading from December 11, 2024, to January 10, 2025. This decision has been made within the framework of the Volatility-Based Precautionary System (VBTS).
VBTS is known as a mechanism implemented to control sudden price fluctuations that may occur in the market. The practice will restrict investors' ability to engage in margin trading during the specified date range.