Izocam and Demir Dokum: no to Kocbank“s capital increase

Turkish glass wool and insulation materials maker Izocam and Turkish central-heating systems maker Demir Dokum will not use their pre-emptive rights in Kocbank“s capital increase, the companies said …

Turkish glass wool and insulation materials maker Izocam and Turkish central-heating systems maker Demir Dokum will not use their pre-emptive rights in Kocbank“s capital increase, the companies said on 28 June 2002. The bank plans to increase its capital in cash to TRL 386.3 trillion from TRL 186.3 trillion. After the increase Izocam“s stake in the bank will decrease to 0.73% from 1.5% and Demir Dokum“s stake will fall to 0.57% from 1.19%. Izocam, Demir Dokum and Kocbank are parts of Turkish diversified holding company Koc Holding.