Members of the Koc family are selling a stake valued at about 1 billion liras ($555 million) in Koc Holding AS, Turkey’s largest group of companies, and plan to use the proceeds for charity.
The following stocks may be active in Turkey. Symbols are in parentheses and prices are from the last close.
Koc Holding AS, Turkey’s biggest industrial group, will invest 6.5 billion liras ($3.4 billion) in 2012, Hurriyet reported, citing Chairman Mustafa Koc.
Tupras Turkiye Petrol Rafinerileri AS slumped to the lowest level in more than nine months after tax authorities started an investigation into Turkey’s sole oil refiner. Parent company Koc Holding AS and its units also fell.
Turkey’s benchmark ISE National 100 Index rose 201.79, or 0.3 percent, to 63,482.218 at the 5:30 p.m. close of trade in Istanbul.
Koc Holding AS, Turkey’s biggest group of companies, retreated the most in more than 15 months after three family members canceled a planned sale of 100 million shares.