Bloomberg News

Aselsan Elektronik Climbs in Istanbul on Bonus Shares Plan

June 01, 2012

Aselsan Elektronik Sanayi & Ticaret AS (ASELS), a Turkish maker of electronic equipment for the defense industry, rose the most in two weeks after saying it will issue 1.13 bonus share for each held.

Aselsan gained 2.9 percent to 9.90 liras at the close in Istanbul, in the biggest increase since May 16.

The company will raise its capital by 264.8 million liras ($142 million) to 500 million liras through company funds and distribute bonus shares to shareholders, it said in a statement to the Istanbul Stock Exchange after the market closed yesterday.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Mark Bentley at mbentley3@bloomberg.net


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