BIM Birlesik Magazalar AS has unveiled a TL1 billion share repurchase program covering up to 2.5 million shares, a corporate action that coincided with a 2.8% lift in the company's stock on Monday.
The company said the buyback was motivated by its assessment that the market price did not fully reflect underlying performance. At the announced value, the program is approximately $21 million.
This marks the third large repurchase initiative from the Turkish discount retailer in a short stretch. The new program follows a TL1 billion buyback announced in October 2024 and a TL1.1 billion program disclosed in September 2025.
Market context around the announcement underlines recurring patterns of buybacks after periods of price weakness. Before this latest program was revealed, BIM shares had risen about 33% year-to-date but were still roughly 14% below their May 26 highs. The October 2024 initiative was announced shortly after second-quarter 2024 results undershot expectations and after a roughly 25% decline from September 2024 highs. Similarly, the September 2025 program came after about a 10% pullback from August 2025 peaks.
Investment bank commentary pointed to the potential market effects. Citi analysts said they would expect the most recent repurchase program to provide near-term support to investor sentiment.
Observers will note the consistency in timing and scale: successive buybacks of TL1 billion and TL1.1 billion, and now another TL1 billion program, indicate a repeated corporate response to episodes of share-price weakness. The company quantified the scale of the current program as up to 2.5 million shares, and valued the repurchase at roughly $21 million.
While the announcement produced an immediate positive reaction in the share price, prior intra-year volatility is evident in the stock's movements: a substantial year-to-date advance alongside several notable drawdowns from recent highs that preceded earlier buyback measures.
Data points reiterated
- Buyback size: TL1 billion for up to 2.5 million shares (approx. $21 million).
- Immediate market reaction: shares rose 2.8% on Monday.
- Previous buybacks: TL1 billion in October 2024 and TL1.1 billion in September 2025.
- Recent share performance: up ~33% year-to-date but ~14% below May 26 highs.