How is the future shaped by Kuyaş Yatırım's Borsakule 2 Project?

Kuyaş Yatırım's Financial Situation and Borsakule 2

Kuyaş Yatırım has drawn attention with its total sales revenue in the first half of 2025. However, the company reported a loss of 74.4 million TL in just the first half of the year, which is the opposite of the 155 million TL profit in the same period last year. These figures clearly indicate that Kuyaş Yatırım is unable to cover its costs with the revenues generated from its core operations.

Importance of Borsakule 2 Project

The Borsakule 2 project presents a significant opportunity for Kuyaş Yatırım. The collective sale of the 102 independent units involved in the project has not yet been finalized; however, there are indications that negotiations are progressing positively. If the sale and collection occur within the year, it could have a significant positive impact on the year-end financial statements. However, analysts emphasize that while this sale may boost Kuyaş's sales performance in the short term, it is not sustainable.

Fiba Holding's Share Sale

- Gelecek Varlık Yönetimi, the major partner of Fiba Holding, had applied to the SPK to convert 9.4% of its shares into publicly traded form but later withdrew this request. Such a conversion is seen as an important step in creating liquidity in the partnership structure, converting to cash, or enabling price discovery. However, the reasons for the withdrawal have not been disclosed to the public yet.

Market Reaction and Price Trends

Fiba Holding's shares have shown activity since March. Particularly on September 2, the shares reached a maximum of 77.30 TL, but faced some pressure from subsequent sales. However, the nine-month balance sheet dated October 30 drew attention with a 93% increase in interest income and a 32% profit increase. These positive results have attracted investor interest, leading to a 6.86% increase and a closing price of 73.95 TL on the last trading day.