Following strong reactions to the earthquake disaster, Borsa İstanbul, which had suspended trading as of last Wednesday, has reopened. After trading in the equity and derivatives markets resumed on Wednesday, February 15, companies quickly issued disclosures to the Public Disclosure Platform (KAP). Many publicly traded firms announced buyback programs to support their share prices.
The earthquake centered in Kahramanmaraş, which affected ten provinces and caused major destruction, continues to require recovery efforts in the region. Following last Wednesday’s suspension, trading on Borsa İstanbul’s equity and derivatives markets reopened. The index opened higher, rising 263.81 points to 4,769.15.
COMPANIES ANNOUNCE BUYBACKS ONE AFTER ANOTHER
As the BIST 100 index extended its gains, it was up 6.14% on the morning of February 15. Authorities also implemented new measures before the market opened to guard against sharp declines. In response, numerous companies announced share repurchase programs to support their stock prices.
Companies including Acıselsan, Altınyağ Madencilik, Birko, İş Bankası, İş Yatırım, Seyitler Kimya, THY, Vakıfbank and Gedik Yatırım began buyback programs, among others. Verusa Holding and İnfo Yatırım revised their existing programs. Officials expect the number of announcements to rise further.
STATEMENTS FROM COMPANIES IN THE EARTHQUAKE REGION
After the quake that struck ten provinces, there was concern about the operational status of companies based in the affected area. Firms operating in the region issued updates to KAP after trading was suspended, and many were able to resume operations. Sasa Polyester, Bossa Ticaret ve Sanayi İşletmeleri, Bilici Yatırım, Sanko Pazarlama and Rubenis Tekstil reported that their factories did not suffer major damage and that production is continuing.
NEW MEASURES ANNOUNCED BY THE CAPITAL MARKETS BOARD (SPK)
In its statement, the Capital Markets Board (SPK) said it has introduced measures to facilitate share buyback transactions and protect investors, regardless of whether a company already has an active buyback program. These measures aim to ease repurchase processes for listed companies and their affiliates and to preserve investor confidence. With the market reopened under these new precautions, activity on the exchange continues.