Alkim Kağıt gets SPK approval for capital clause amendment
The planned 275625000 TL cash increase still needs ministry permission and a shareholder vote before it can proceed.
Key takeaways
- SPK approved the proposed amendment to Alkim Kağıt’s capital clause on October 12.
- The board plans a 275625000 TL rights issue, subject to further approvals.
Alkim Kağıt’s proposed 275625000 TL cash capital increase has cleared one regulatory step: the Capital Markets Board of Turkey (SPK) approved an amendment to the company’s capital clause on October 12, according to the company’s KAP filing.
The board’s plan would raise capital from 735000000 TL to 1010625000 TL. Existing shareholders’ rights to subscribe would not be restricted, and the new shares would be F Group shares eligible to trade on Borsa İstanbul.
A rights issue lets existing shareholders subscribe for new shares in proportion to their holdings. If completed, the planned cash increase would bring funds into the company; the filing does not say that the increase has been completed.
The board also withdrew and canceled an earlier plan for a private placement. The SPK approval covers the proposed charter amendment, not completion of the capital increase. The company says it will seek Trade Ministry permission, then submit the amendment to shareholders for approval.
This article was produced with the help of AI technology. Source: Yahoo Finance
