Turkiye Sigorta shares plunge after majority shareholder's decision to sell its shares

Turkiye Sigorta AS

15/05/2026 08:32

** Shares in Turkiye Sigorta TURSG.IS fall about 5% paring losses after falling as much as 8%, after majority shareholder TVF Finansal Yatirimlar announced on Thursday to sell up to 450 mln of its shares

** Turkey-based company that provides a range of insurance services, stated later on Friday before open, TVF has sold shares with a total nominal value of 500 mln lira ($10.98 mln) in Turkiye Sigorta, at a price of 13.50 lira per share

** Brokerage Global Menkul Degerler says it assesses the deal negatively

** Company's shares are on track for their worst day since December 30, when it closed 8.5% lower

** Stock is among the worst performers in Turkey's main BIST 100 index .XU100 which is down about 1%

($1 = 45.5323 liras)

 (Reporting by Arda Dipova)

 ((arda.dipova@thomsonreuters.com))