More than 50 companies announced TL 23.2 billion share repurchase

With the tax exemption that took place the other day, the stock exchange companies started a successive share repurchase program. In total, more than 50 companies announced that they will buy back 23.2 billion pounds of shares.

16.02.2023 - 10:00 Last Update : 16.02.2023 - 11:25

More than 50 companies announced TL 23.2 billion share repurchase

Borsa Istanbul recouped its losses due to the measures taken. With the introduction of exemption from tax, stock exchange companies started a successive share repurchase program. In total, more than 50 companies announced that they will buy back 23.2 billion pounds of shares.

Ereğli Demir ve Çelik

Erdemir announced that it has allocated a maximum of TL 2 billion for the three-year share repurchase program.

Turkish Airlines

Turkish Airlines announces a three-year share repurchase program. THY allocated TL 9 billion in funds for the repurchase. It was decided to limit the maximum number of shares to be repurchased to 5 percent of the company's issued share capital.

Is Bankasi

IS Bankası launched a 3 billion TL share repurchase program to support healthy price formation in the share market.

Is Investment

Is Investment announced a share repurchase program with a maximum fund amount of TL 500 million.

Halkbank

Halkbank announced its decision to increase the share repurchase limit in order to protect the value of shareholder investments and to support price stability in the bank's share value.

In the statement, for a period of 3 years; It was stated that it was decided to increase the limits on the repurchase of the bank's public shares traded on Borsa Istanbul up to a maximum sales amount of 2 billion 250 million liras in addition to 1 billion 500 million liras to the previously announced maximum sales amount of 750 million liras.

Some companies announcing the PAY repurchase include;

Through KAP; Sasa Polyester, Inveo Investment, Gedik Investment, Smart Solar Energy, E-Data Technology, Koleksiyon Mobilya, Birko Birleşik, Gelecek Asset Management, Diriteks Diriliş Tekstik, Verusa Holding, Biotrend, Orçay, Pasifik Real Estate, Seyitler Kimya, Şekerbank, Işık Plastik, Hedef Holding, Etiler Gıda, Altınyağ Madencilik were the companies that announced the share repurchase program.

What is a share buyback?

Share buyback is when companies collect their shares traded on the markets to increase the value of their shares. Share buyback has a significant impact on earnings per share.

In some cases, the company may buy back some of its shares both to increase its future equity and to create a signal effect on shareholders, but when the movement in the markets decreases, it may reissue the same shares at a higher value.