The index and market changes that Borsa Istanbul carries out every 3 months were this time more comprehensive than ever before. According to information obtained from Borsa Istanbul sources, the scope of the changes was determined by the regulations made in the Equity Market Procedure and the Listing Directive.
While the volatility criterion was introduced into the star and main market calculations in the Equity Market Procedure, exceptions were removed. In the Listing Directive, the market value criterion was doubled.
Following these changes, while the number of companies in the star market decreased, 1 in BIST 30, 6 in BIST 50, and 27 in BIST 100 were excluded from the index.
According to the news of Şebnem Turhan from Ekonomim, within the scope of the market revision published by Borsa Istanbul on the Public Disclosure Platform and which will be valid between 1 October and 31 December, 149 shares will be traded in the star market, 396 shares in the main market and 49 shares in the sub-market.
While it was stated that the reason for the changes was no longer just transaction volume or market value, changes were made in the 37th article of the Borsa Istanbul Equity Market Procedure and the 8th article of the Listing Directive. Before the change in the Equity Market Procedure, there was no volatility requirement to take part in the star market.
With the amendment, the volatility criterion was added to the article and the condition of "not being in the highest volatility bracket" was introduced.
In the directive, the criterion in question was defined as whether a share is in the highest volatility bracket determined in the volatility ranking among the shares subject to evaluation, with a maximum of 10 percent.
Accordingly, from now on, if there is a high amount of fluctuation in the stocks of companies in the star market and if there are sharp increases or decreases at the end of the index period, the companies' presence in the indices will be at risk.
In the Listing Directive, the minimum market value of the publicly offered shares of companies to be included in the star market, main market and sub-market was doubled.
Previously, in order to take part in the star market, it was sufficient for the minimum market value of the shares offered to the public to be 2 billion Turkish Liras, 500 million Turkish Liras in the main market and 200 million Turkish Liras in the sub-market.
In the new system, this limit was determined as 4 billion Turkish Liras for the star market, 1 billion Turkish Liras for the main market, and 400 million Turkish Liras for the sub-market.
While Destek Finans Faktoring and Katılımevim were removed from the star market, the number of companies in the star market also decreased.
Changes in market criteria were effective in determining companies entering and exiting the indices. According to the statement of Borsa Istanbul, the change of 27 companies in BIST 100 means the most comprehensive periodic revision in the history of the index.
While 1 company was changed in BIST 30, this number was 6 in BIST 50.
26 of the 27 companies removed from the BIST 100 index will also exit the star market as of October 1. The total market value of 27 companies removed from the BIST 100 index, including Destek Finans Faktoring, which is the 7th most valuable company with a market value of 536 billion Turkish Liras, and Katılımevim, which ranks 30th with a market value of 126.3 billion Turkish Liras, corresponds to 1.3 trillion Turkish Liras.
According to the statement made by Borsa Istanbul, TR Anadolu Metal Madencilik shares will be purchased instead of Destek Finans Faktoring in BIST 30.
While CVK Madencilik, CW Enerji, Doğuş Otomotiv, Enerya Enerji, Mavi Giyim and TSKB were included in BIST 50; Destek Finans Faktoring, Efor, Katılımevim, Kuyaş, Mia Teknoloji and Pacific Eurasia were removed.
From BIST 100, Balsu Gıda, Batıçim, Dap Gayrimenkul, Destek Finans Faktoring, Efor, Esenboğa Elektrik, Europower, Gen İlaç, Gesan, Grainturk Holding, Galatasaray, Işıklar Enerji Yapı Holding, İzdemir Enerji, Kiler Holding, Katılımevim, Kuyaş, Margun Enerji, Odine, Pacific Eurasia, Pacific Technology, Pacific GMYO, Quagranit, Ral Yatırım Holding, Reeder, Sarkuysan and Şekerbank were removed.
It was stated that Batıçim, which left BIST 100 despite remaining in the star market, was excluded from the index due to the ranking, not market suitability.
The shares of the 27 companies that have recently entered the BIST 100 are as follows: Anadolu Group Holding, Ahlatçı Doğalgaz, Akçansa, Akfen Renewable Energy, Aygaz, Bin Yatırımlar Holding, Eczacıbaşı Yatırım, Ege Endüstri, Ege Gübre, IC Enterra Renewable Energy, Global Investment Holding, Galatawind, İskenderun Demir Çelik, Karsan, Katmerciler, Kocaer Çelik, Kordsa, Limak Doğu Anadolu, Rönesans Gayrimenkul Yatırım, Reysaş Logistics, Sinpaş GMYO, Tab Gıda, Kıraç Galvaniz, Torunlar GMYO, Türk Traktör.
In simultaneous operations carried out in Istanbul and Aydın within the scope of the investigation into manipulative transactions in the capital markets, 14 of the 15 suspects for whom an arrest warrant was issued were detained. It was determined that one suspect was abroad.
It was stated that the operation, within the scope of the investigation carried out by the Istanbul Chief Public Prosecutor's Office and the Istanbul Provincial Police Department, was carried out in line with the Capital Markets Board's (CMB) findings of market fraud regarding the transactions in Katılımevim Savings Finance (KTLEV), Destek Holding and Hedef Holding shares.
With the new operation, the number of suspects against whom judicial proceedings have been initiated within the scope of the investigation has increased to 60.
While 4 of the suspects were arrested, the judicial proceedings of 44 suspects in custody continue. Additionally, efforts are continuing to capture 12 suspects.
