Approval of Capital Increase by SPK 2 Companies
The Capital Markets Board (SPK) has recently approved several capital increase applications from prominent companies in Turkey. Among these approvals are Shell & Turcas Petrol AŞ with a capital increase of 9 billion lira, Ziraat Gayrimenkul Yatırım Ortaklığı AŞ with 4 billion lira, Akbank TAŞ with 40 billion lira and 5 billion dollars, and Türkiye Sınai Kalkınma Bankası AŞ with a 1 billion dollar debt instrument issuance application.
Positive Responses to Asset Leasing and Investment Funds
Furthermore, Nurol Varlık Kiralama AŞ, Değer Varlık Kiralama AŞ, and ZKB Varlık Kiralama AŞ each received approval for 3 billion lira, while Halk Varlık Kiralama AŞ was granted permission for a 10 billion lira lease certificate issuance based on management agreements. Natura Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi AŞ’s requests for the establishment of the Natura Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi AŞ First and Second Project Real Estate Investment Funds were also positively received.
The SPK also decided to approve the establishment of Nurol Portföy Yönetimi AŞ’s Eighth, Ninth, and Nufon Real Estate Investment Funds, as well as the issuance of participation shares related to their establishment.
Administrative Fines Imposed
In terms of regulatory actions, the SPK imposed an administrative fine of 1 million 575 thousand 108 lira on Inveo Portföy Yönetimi AŞ for mismanagement of an investment fund’s portfolio. Additionally, Anadolu Isuzu Otomotiv Sanayi ve Ticaret AŞ and 23 individuals were collectively fined a total of 58 million 835 thousand 609 lira for transactions in the share market.
Furthermore, Turkish Airlines, DO & CO Aktiengesellschaft, Pegasus Hava Taşımacılığı AŞ, Vakko Tekstil ve Hazır Giyim Sanayi İşletmeleri AŞ, Ford Otomotiv Sanayi AŞ, Aksa Enerji Üretim AŞ, and Petkim Petrokimya Holding AŞ were all fined for transactions in the share markets. One individual received a fine of 6 million 658 thousand 688 lira.
The SPK also issued fines to 13 legal entities amounting to 52 million 503 thousand 606 lira for facilitating transactions that violated the ban on short selling in the Borsa Istanbul AŞ share markets. Additionally, 53 legal entities were fined a total of 103 million 62 thousand 634 lira for facilitating transactions that violated the deposit requirement measures.
Enforcement Actions and Measures
The SPK took action against unauthorized capital market activities, leading to a decision to file criminal charges against an individual. Moreover, the SPK identified 50 websites that were offering leveraged trading to Turkish residents and ordered the necessary legal actions to block access to these sites.
In conclusion, the SPK’s recent decisions regarding capital increases, asset leasing, investment funds, and regulatory fines demonstrate the board’s commitment to maintaining transparency and compliance within the Turkish financial markets. The enforcement actions taken against those violating market regulations serve as a reminder of the importance of adhering to established guidelines for a fair and orderly market environment.
