Morning Note /
Turkey

Turkey: Finally, long-awaited profit-taking took place yesterday in BIST

  • SASA and HEKTS which will be added in MSCI Index at November end

  • The majority shareholder of PGSUS; Esas holding announced to sell 7% of their share in PGSUS at TRY 315/share

  • Today we expect to see reaction buying at the opening towards 4,530

ATA Invest
18 November 2022
Published byATA Invest

Finally, long awaited profit taking took place yesterday in BIST. SASA and HEKTS which will be added in MSCI Index at November end and high weight in BIST 100 Index was limit down as well. The majority shareholder of PGSUS; Esas holding announced to sell 7% of their share in PGSUS at TRY 315/share which signals around 15% discount. Today we expect to see reaction buying at the opening towards 4,530. For further buying 4,570 should be broken up. Daily support is at 4,440.

Company news:

* PGSUS TI> Esas Holding announced the launch of the sale of 7,160,982 shares corresponding to approximately 7% of the share capital of Pegasus at TRY 315/share. Esas Holding currently holds 62. 91 % of the issued share capital of Pegasus and following the completion of the transaction, Esas Holding’s share will be 56.66%. Esas Holding will remain as the majority shareholder of Pegasus and will maintain management control on Pegasus.

*MPARK TI> bought back 30K shares at an average price of TL69.27 on 17 November 2022. Since 25 May 2022, the total number of shares bought back reached 6.5mn at an average price of TL48.30.

 *SAHOL TI> bought back 1mn shares at an average price of TL35.78 on 17 November 2022. Since 09 Nov 2021, the total number of shares bought back reached 72.9mn at an average price of TL18.88.

 *ALARK TI> bought back 27K shares at an average price of TL72.41 on 17 November 2022. Since March’18 2022, the total number of shares bought back reached 2.2mn at an average price of TL45.85.

Weekly Agenda:

Nov, 18: October CBRT Survet of participants