Turkish Batisoke Cimento

Turkish Batisoke Cimento
Published: 01 April 2004

Turkish cement and clinker producer Batisoke Cimento decided at its management board meeting on March 30, 2004 to boost its paid-in capital to 56.25 trln Turkish lira ($42.7 mln/34.9 mln euro) from 11.25 trln lira ($8.5 mln/7.0 mln euro).  The company said in a statement to the Istanbul Stock Exchange (IMKB) that the capital increase will be carried out through a 400 pct bonus issue. A total 45 trln lira ($34.2 mln/27.9 mln euro) will be covered from the company’s revaluation funds. Batisoke Cimento is a subsidiary of local sector company Bati Cimento (Baticim).