Shares begin to fall: Banvit's first statement following 947 million TL fine

Banvit has announced that it has been issued an administrative fine of 947 million TL by the Competition Board. Following this development, the company's shares began the week with a decline.

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Shares begin to fall: Banvit's first statement following 947 million TL fine

Banvit announced that, as a result of the investigation conducted by the Competition Board into whether Article 4 of the Law on the Protection of Competition No. 4054 had been violated, they were issued an administrative fine of 947,305,871.90 TL. The company stated that this decision was not reasoned and that the details had not yet reached them. Payment of the fine with a 25% early payment discount after the notification of the reasoned decision will be evaluated.

Banvit stated that developments will be shared with the public within the framework of Capital Markets Legislation.

DECLINE IN SHARES FOLLOWING THE FINE

Following the Competition Board's fine, Banvit shares began the week with a decline. The shares, which closed last week at the 191.8 level, fell to as low as 186.2 in the morning hours of the first trading day of the new week.