Tupras shares slide after Koc Holding sells stake

Turkiye Petrol Rafinerileri AS

26/03/2026 08:45

** Shares in Tupras TUPRS.IS fall around 4% after Koc Holding KCHOL.IS sold a 2.1% stake in Turkey's largest oil refiner via an accelerated bookbuilding

** Koc Holding says sale size had been increased from an initially announced maximum of 30 mln nominal value shares to 40 mln due to investor demand, with transaction completed at 233 lira per share for total proceeds of 9.32 bln lira

** Brokerage Global Menkul Degerler says the transaction creates short-term supply-side pressure and assesses the news as limited negative for Tupras shares

** Brokerage Deniz Yatirim says the transaction was executed at 233 lira per share, implying a 7% discount to the previous close, which could weigh on Tupras shares in the short term

** However, Deniz Yatirim adds that the stake sale could boost liquidity and help sustain investor interest over the medium to longer term amid expectations for upcoming quarterly results

** Koc Holding shares gain 1.3%, in contrast to Tupras, which is the weakest performer on Turkey's BIST 100 index

 (Reporting by Canan Sevgili)

 ((canan.sevgili@thomsonreuters.com))