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Türkiye announced on Tuesday that it had decided to transfer the shares of Koza Holding’s 12 companies held by the Treasury to the nation’s sovereign wealth fund, including that of the country’s biggest gold mining company.
Stock exchange-listed Koza Altın, Koza Anadolu Metal and Ipek Doğal Enerji were among the companies whose shares were transferred to the Türkiye Wealth Fund (TWF), according to a presidential decree published in the Official Gazette.
The wealth fund has been overseeing more than $300 billion in assets, according to its 2022 report.
Shares of the mining company Koza Altın rose 8.9%, while Koza Anadolu Metal was up 8.1% at the Borsa Istanbul Stock Exchange (BIST) open.
Ipek Doğal Enerji shares jumped 9.94% to TL 54.2 after the decision, while the benchmark index BIST 100 was little changed.
In a joint filing to the exchange, the companies said their listed shares will continue to trade on the Borsa Istanbul and there will be no change in their legal status.
Koza Holding has been run by government-appointed trustees since its assets were seized due to its links to the Gülenist Terrorist Group (FETÖ), which orchestrated a bloody coup attempt in Türkiye in July 2016.
