Ulaşlar Turizm to increase capital to 48 million TL

Ulaşlar Turizm Enerji Tarım Gıda ve İnşaat Yatırımları A. Ş. (ULAS) has decided to increase its capital to strengthen its equity structure. According to a disclosure to the Public Disclosure Platform (KAP), the company's issued capital will rise from 25,382,175 TL to 48 million TL.

The capital increase of 22,617,825 TL will be carried out through a rights issue where existing shareholders' preemptive rights will be restricted. The new shares will be allocated to the controlling shareholder, Avrupa Yatırım Holding A. Ş. (AVHOL), via a wholesale sale on Borsa İstanbul.

This transaction is intended to offset the cash receivables that Avrupa Yatırım Holding holds against Ulaşlar Turizm. The company will apply to the Capital Markets Board (SPK) for the approval of the necessary issuance documents to complete the process.