Turkish Airlines (THY) started a ₺9 billion share buyback program to support healthy price formation in the share market.
THY announced that it has started a share buyback program in the statement it sent to the Public Disclosure Platform (KAP).
In the statement, it was stated that within the framework of the amendment implemented by the Capital Markets Board (CMB) on the Communiqué on Repurchased Shares, it was decided to start a share repurchase program to cover 3 calendar years in order to support healthy price formation in the share market.
In the statement, which was determined as ₺9 billion, it was stated that it was decided to limit the maximum number of shares to be repurchased to 5% of the company’s issued capital, the maximum amount that can be repurchased is to be met from the company’s cash portfolio, and to submit the share buyback transactions to the agenda of the first General Assembly meeting for the information of the General Assembly.
Source: AA / Prepared by Irem Yildiz
