Share repurchase volume on Istanbul stock exchange exceeds 25 billion TL

The share repurchase volume in Borsa Istanbul, which was opened with regulations after the earthquakes, has exceeded 25 billion liras. The stock market in Turkey, plagued by deaths and destruction after the earthquakes, was left open despite the declines in the first two days, and about 400 thousand investors in the region had incurred loss. Thereafter, the Finance Management had announced a series of measures to compensate for the losses before reopening the stock exchange.

Following the regulations that facilitated share repurchases, companies have turned to share repurchases. As of today, the size of the programs announced by 81 companies has exceeded 25 billion liras. The duration of the share repurchase programs varies between three months and three years.

The largest share repurchase program came from Turkish Airlines (THY) with 9 billion liras. THY was followed by Işbank with 3 billion liras, Ereğli Demir Çelik with 2 billion liras and Halkbank and Aksa Akrilik with 1.5 billion liras. Halkbank, which previously had a share repurchase program of 750 million liras, thus increased the program size to 2.25 billion liras.

Vakıfbank and Akbank also announced that they had launched a share repurchase program of 1 billion liras each. Within the announced share repurchase programs, purchases of 1 billion TL and more account for about 70 percent of the total share repurchase programs. 51 companies announced share repurchases between 10 million and 100 million liras. (diken.com.tr/borsada-hisse-geri-alim-hacmi-25-milyar-lirayi-asti )