Turkey-based Hektas slides after discounted share sale
BUZZ-Turkey-based Hektas slides after discounted share sale ** Shares in Hektas Ticaret HEKTS.IS fall about 6%, paring earlier losses of as much as 7.3%, after a stake sale by a shareholder
** The Turkey-based agricultural chemicals company on Tuesday said that its shareholder OYAK priced the placement of 716.6 mln Hektas shares
** Brokerage Deniz Yatırım says that the determined sale price of 3.39 lira ($0.0729) implies a 15% discount and that it finds said discount "somewhat high compared with the recent share sales"
** While in Deniz Yatırım's view the sale could result in short-term pressure on the stock, it highlights that Hektas had reduced its debt and interest burden after turning to gross profit for the first time in two years in Q1 2026
** The company's stock is among the worst performers in Turkey's main BIST 100 index .XU100
($1 = 46.4834 liras)
(Reporting by Arda Dipova)
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