Turkey transfers treasury-held shares of 12 companies to wealth fund, listed shares surged
Adds share move for listed companies
ISTANBUL, Aug 20 (Reuters) -Turkey has transferred the shares of 12 companies held by its treasury, including three listed ones, to the Turkey Wealth Fund, according to a presidential decree published in the country's Official Gazette on Tuesday.
Stock exchange-listed Koza Altin KOZAL.IS, Koza Anadolu Metal KOZAA.IS and Ipek Dogal Enerji IPEKE.IS were among the companies whose shares were transferred to the wealth fund, which oversaw more than $300 billion in assets according to its 2022 report.
Shares of Koza Altin rose 8.9% while Koza Anadolu Metal KOZAA.IS was up 8.1% at the Borsa Istanbul open. Ipek Dogal Enerji shares jumped 9.94% to 54.2 lira after the decision while the benchmark index BIST 100 .XU100 was little changed.
In a joint filing to the exchange, the companies said their listed shares will continue to trade on the Borsa Istanbul and there will be no change in their legal status.
Reporting by Ezgi Erkoyun and Can Sezer; Editing by Christian Schmollinger, Kristen Donovan
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