Haci Ömer Sabanci Holding A.S. announces an Equity Buyback for 10,200,000,000 shares, for TRY 1,750 million.
November 09, 2021
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Haci Ömer Sabanci Holding A.S. (IBSE:SAHOL) announces a share repurchase program. Under the program the company may repurchase 10, 200,000,000 shares for TRY 1,750 million. The Purpose of the share buyback is to support price performance of SAHOL shares,to reduce net asset value discount by bringing shares closer to its fair value,to provide shareholders with more attractive long-term investment opportunity.
Haci Omer Sabanci Holding AS (Sabanci Holding), is a Turkey-based holding company, which is engaged in a wide variety of business activities through its subsidiaries and affiliates, mainly in the banking, financial services, energy, building materials, digital and retail sectors. Through its subsidiaries Brisa, Kordsa, Temsa, and Temsa Motorlu Araclar, it manufactures and wholesales automobiles, light commercial vehicles, trucks, agricultural and construction machinery tires, and manufactures electric and diesel city and inter-city buses. Sabanci Holding is active in the banking and finance sectors via subsidiaries, Akbank, Aklease, Akyatirim and Akportfoy, and it provides financial, leasing, investment and portfolio management services. The Company also involves other activities, such as electricity generation and distribution, manufacturing building materials, retailing electronics, and operating supermarkets.