TMSF appoints receiver to Borsa Istanbul-listed Kontrolmatik; share price collapsed from 53 lira to below 2 lira in three years

The Savings Deposit Insurance Fund (TMSF) appointed a receiver yesterday evening to Kontrolmatik Teknoloji, a Borsa Istanbul-listed company operating in energy storage systems, electrical grids, and industrial automation.

TMSF official İbrahim Paşalı, reached by phone by Ekonomi, confirmed that the fund had appointed a receiver to Kontrolmatik. The appointment was disclosed to the public by being added to the 'receivership companies list' on TMSF's official website; the company made no announcement to the Public Disclosure Platform (KAP).

The company's share price has fallen from 53 lira to below 2 lira over the past three years, founder shareholders have left the company, and more than 300,000 small investors have suffered losses. Kontrolmatik was also the owner of Pomega, a lithium iron phosphate battery production facility in Ankara that has been inactive for approximately one year.

According to Board Chairman Mustafa Ceyhan's recent investor presentation, Pomega needs significant financing to resume production; discussions are ongoing with banks and co-investor Işbank Portfolio, but there is no concrete timeline. The construction of Pomega's facility in the USA has also stalled due to the crisis, and the facility currently has only one employee.

The company is also facing cash constraints; some payments have fallen overdue, and revenues from ongoing projects are being diverted to various obligations. The receiver appointment is viewed as the natural consequence of this deepening financial picture over recent months.