**ALGYO's 4.057 Billion TL Capital Increase: Strategic Restructuring of Financial Framework**

The Borsa Istanbul-listed Alarko Gayrimenkul Yatırım Ortaklığı A.Ş. (ALGYO) announced its decision to increase its capital by 200% through a cash call, following a formal application to the Capital Markets Board (SPK). According to the public disclosure on the Public Disclosure Platform (KAP), the company aims to raise its current 2.028.600.000 TL capital to 6.085.800.000 TL via a fully paid capital increase.

Financial Restructuring Process

■Total increase amount: 4.057.200.000 TL

■Target capital: 6.085.800.000 TL

■Application date: July 10, 2026

■Legal basis: Article 6 (Capital) of the Articles of Association

Market Impact and Investor Strategy

■The cash-based capital increase is viewed as a crucial step to enhance liquidity and strengthen the company's financial structure.

■Despite a 12.5% decline in ALGYO's stock over the past six months, this move aligns with market expectations for restructuring.

■Dark pool volumes and brokerage firm distributions may play a pivotal role in shaping investor sentiment during the capital increase process.

Volkan Şen Analysis: This fully paid capital increase represents a strategic maneuver for ALGYO to consolidate its debt structure and expand its real estate portfolio in the coming years. With smart money increasingly targeting undervalued real estate firms in the BIST 100, the potential for institutional inflows rises. However, the immediate price impact could trigger short-term volatility as the market digests the implications of this significant capital restructuring.