"Zorlu to lift capital, sell stakes; shares fall
Wed Jun 24, 2009 11:36am EDT
* 200 mln lira rights issue will raise capital 245 pct
* Will sell stakes in units to parent, sister companies
* Shares drop 13.7 percent after 40 pct rise
(Adds analyst quote, background, updates share price)
By Ayla Jean Yackley
ISTANBUL, June 24 (Reuters) - Turkish power producer Zorlu Enerji (ZOREN.IS) will more than triple its capital through a 200 million lira ($128.5 million) rights issue and sell stakes in several units, helping it to reduce debt and attract a buyer."
More:UPDATE 2-Zorlu to lift capital, sell stakes; shares fall | Industries | Industrials, Materials & Utilities | Reuters
