PARSN's Milestone: LOGO Buyback Decision, ASELS's Dividend: Latest Developments from BIST Companies
You can find our updated summary of company news based on the notifications made by the companies listed on Borsa Istanbul below.
Parsan Makina achieves a first in Turkey: Successful "hot die forging" of nickel-based super alloy Waspaloy Parsan Makina (PARSN), which continues to develop its forging capabilities in the aviation sector, has achieved a new success. The company has carried out the forging process of the nickel-based super alloy Waspaloy, used as a turbine disc in gas turbine aircraft engines, for the first time in Turkey using the "hot die forging" method. The application of this method on the alloy, which has high chromium and cobalt content, is considered an important step in the industry. Parsan Makina's success enhances its capacity to respond to global aviation needs while demonstrating Turkey's competence in technology and engineering. The company continues to optimize its manufacturing processes and enhance quality using advanced technologies.
Logo Yazılım completes share buyback program Logo Yazılım (LOGO) has completed its share buyback program on Borsa Istanbul within the specified timeframe. Under the decision of the Board of Directors, the company repurchased a total of 1,297,000 shares between November 23, 2023, and May 10, 2024, at a price range of 73.50 TL-92.90 TL. As previously announced, this program aimed to buy back shares not exceeding 10% of the capital. The buyback program is significant for strengthening the company's financial structure in line with market conditions. The shares repurchased by Logo Yazılım correspond to 6.20% of the current capital structure.
Özyaşar Tel commits to solar power investment in Malatya Özyaşar Tel ve Galvanizleme A.Ş. (OZYSR) continues its preparations for a planned solar power plant (GES) investment in Hekimhan, Malatya. The company has completed land acquisitions for the project and has signed contracts with Rhofa Enerji Mühendislik. Despite contrary claims, Özyaşar Tel stated that the GES investment has not been canceled and that the process is progressing as planned. It has been announced that necessary information will be provided to the public regarding every stage of the investment.
Gübre Fabrikaları appeals Razi decision The lawsuit filed by Gübre Fabrikaları's (GUBRF) subsidiary against Razi Petrochemical Co. has resulted in a partial conclusion. It was reported that Razi was acquitted of the charges of gaining illicit profits, and the lawsuit amount of 329,356,740 USD was reduced to 59,379,352 USD for payment. However, following the notification of the decision, Razi announced that it would appeal through legal channels within the stipulated time. This process holds significant importance for the company's legal battles.
New appointment at Odine Solutions Odine Solutions Teknoloji Ticaret ve Sanayi A.Ş. (ODINE) has appointed Bora Yücel as the Deputy General Manager responsible for solutions. Yücel has 30 years of experience in the telecommunications industry. Specialized in technology strategy development and engineering, Yücel has participated in many significant national and international projects. Holding a bachelor's degree from Istanbul Technical University and a master's degree from Boğaziçi University, Yücel will manage the company's solution development processes and contribute to the provision of innovative technological solutions.
Aselsan and SDT Uzay ve Savunma to distribute dividends (ASELS) will distribute a gross dividend of 0.1118421 TL per share today. Based on this dividend amount, the theoretical price has been announced as 68.388 TL. Similarly, SDT Uzay ve Savunma Teknolojileri A.Ş. (SDTTR) will distribute a gross dividend of 0.8417594 TL per share. The theoretical price of the share has been indicated as 232.358 TL.