Bloomberg News

Otokar Rises in Istanbul Trading on Armored Vehicle Contract

May 14, 2012

Otokar Otomotiv & Savunma Sanayi AS (OTKAR), a producer of buses and military trucks, rose in Istanbul after it received a contract for armored vehicles worth about 39.5 million liras ($22 million).

The shares gained 1.4 percent to 30 liras at the close, after earlier jumping as much as 2.4 percent.

Turkey’s domestic security force placed an order for armored vehicles due for delivery this year, Otokar said in a statement to the Istanbul Stock Exchange today.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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