As one of Türkiye’s e’s leading garment manufacturers and exporters, Sun Tekstil announced on March 24th that it has started a share buyback program. In the subsequent statement, the company shared: “Within the scope of the share buyback transactions of the Sun Tekstil Board of Directors; on 24.03.2025, our company repurchased a total of 48,000 SUNTK shares on Borsa İstanbul at a price range of 29.12 TL – 29.60 TL per share (weighted average 29.38 TL). The total repurchased shares represent 0.01% of the capital.”
The decisions included in the company’s first announcement to KAP are as follows:
“With the decision of the Board of Directors dated 24.03.2025;
To mitigate the potential short-term negative impacts of the price movements of our shares traded under the SUNTK code on Borsa İstanbul A.Ş. on our investors, to ensure price stability, to support healthy price formation, and to protect shareholders;
- To conduct share buyback transactions in the Yıldız Market where our shares are traded, if deemed necessary, in accordance with the announcements made under the Capital Markets Board’s Communiqué No. II-22.1 on Buy-Backed Shares and the decisions dated 19.03.2025, No. 16/531, and 23.03.2025, No. 18/574;
- To set the maximum number of shares subject to buyback at 5,000,000 shares with a nominal value of 5,000,000 TL;
- To allocate a maximum of 200,000,000 TL from the company’s internal resources for the buyback;
- To set the duration of the Buyback Program as three (3) months from the date of approval by our Board of Directors;
- To authorize the company management for the transactions;
- To make the necessary special situation disclosures on the Public Disclosure Platform regarding the share buyback transactions to be carried out in the market where the company’s shares are traded on Borsa İstanbul A.Ş., and to present the matter to the shareholders at the first General Assembly meeting of our company.
Sun Tekstil increased its net profit by 159% in 2024
Recently announcing its financial results for 2024, Sun Tekstil reported that the consolidated net profit of Sun Tekstil and its subsidiary Ekoten Tekstil reached 904 million TL, marking a 159% increase. You can read the details of the financial results and the evaluations of Sun Tekstil Chairman Elvan Ünlütürk on the subject here.
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