Bank Asya delisted from Borsa Istanbul

Published 01.06.2015 22:35
Updated 01.06.2015 22:59
Bank Asya delisted from Borsa Istanbul

The Borsa Istanbul (BIST) temporarily delisted the Gülen-Movement-linked Bank Asya's shares from the watch list companies market, due to the Banking Regulation and Supervision Agency's (BDDK) decision to transfer the bank's management to the Savings Deposit Insurance Fund (TMSF).

The statement released via the Public Disclosure Platform (KAP) said the bank's shares were delisted in accordance with Article 25/a of share market regulation, while giving no information as to when shares will be opened for transactions.

In the case that equity shares bear information that is of importance to affect investors' decision, Article 25/a authorizes BIST administration to temporarily delist shares in order to inform investors about this information.

The BDDK announced on Friday evening that it decided to transfer Bank Asya to the TMSF, stating this decision was made on the grounds that the problems experienced in the bank's financial, shareholding and administration structures and operations posed a danger for the rights of participation fund owners, as well as for the confidence and stability of the financial system.

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