Hürriyet’s capital increase demand approved

ANKARA

Turkey’s Capital Markets Board (SPK) has approved a demand of paid capital increase by Hürriyet Gazetecilik ve Matbaacılık AŞ, the holding company which owns media assets, including the Hürriyet Daily News.

The board approved Dec. 13 the demand from the company last month, which will increase its capital by 7.24 percent to 592 million Turkish Liras, roughly $110 million.

The increase accounts for some 40 million liras, or $7.4 million.

The issued shares are allocated to Demirören Media Group, which acquired Doğan Media assets in April, including Hürriyet Gazetecilik.

The SPK approved the demand, restricting the re-sale of the shares for six months.