OYAK has decided to sell up to 10% of its non-publicly traded shares in Hektaş through a wholesale transaction on Borsa Istanbul. The proceeds are planned to be transferred to Hektaş as part of a financing support package aimed at reducing the company’s debt burden.

According to a disclosure submitted by Hektaş to the Public Disclosure Platform (KAP), OYAK approved the sale of non-listed shares corresponding to a maximum nominal value of TRY 843 million, representing up to 10% of the company’s capital. The transaction will be conducted through Borsa Istanbul’s (BIST) wholesale trading procedure with a third-party investor to be determined.

The statement also noted that an investment institution will be appointed to intermediate the transaction process. Funds generated from the share sale are expected to be transferred to Hektaş to support the company’s financial structure and reduce debt levels.

As part of the process, the proceeds will reportedly be provided to Hektaş as a capital advance to be offset against a future private placement capital increase.

Founded in 1956, Hektaş operates across plant protection, plant nutrition, seeds, animal health and smart agriculture technologies. The company also has activities in animal health products and feed additives, alongside its broader agricultural input portfolio.

OYAK became a shareholder in Hektaş in 1963 and has been the company’s majority shareholder since 1981. Hektaş has been publicly traded on Borsa Istanbul since 1986.