Turkey’s Automobile Joint Venture Group’s (TOGG) paid capital has been raised by TRY 846.7m from TRY 150m to TRY 996.7m, according to a statement by the company to the Public Disclosure Platform. The share distribution of TOGG’s partners has changed following the capital increase. KOK Ulasim Tasimacilik AS, TOGG’s, didn’t participate in the capital increase as the company decided to narrow its business segment. Telecommunication company Turkcell, home and professional appliances company Vestel and Anadolu Group joined the capital increase. Three shareholders acquired 0.2% of the 2.9% share of KOK Ulasim left in TOGG’s capital, the statement read. Thus, final shares of Turkcell, Vestel and Anadolu Group in TOGG have increased from 19% to 23%.
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