Kontrolmatik shares were hit by a sharp selling wave due to consecutive debt payment failures and pressure from insider sales. Since reaching its peak in September 2023, the company's market value has shrunk by about 93% in dollar terms.
As of June 2026, the company's total market value fell to 197 million dollars, equivalent to 9 billion 35 million Turkish lira. During the same period, the share price dropped to around 6.33 lira.
Sharp Decline from Peak to Bottom
Kontrolmatik had reached a market value of 2.81 billion dollars in September 2023. At the exchange rate of that time, this corresponded to approximately 73 billion lira, highlighting the scale of the loss the company experienced over the last 33 months.
This decline was not seen as merely a result of general market fluctuations. Pressure on the company’s balance sheet and a loss of investor confidence deepened the sell-off.
How the Default Process Began
On May 15, 2026, the company management failed to make payments on two debt instruments totaling 450 million lira due on that date. The default involved a bond with a nominal value of 250 million lira coded TRSKNTR52618 and a bill worth 200 million lira coded TRFKNTR52615.
Following the payment failure, shares dropped 10% the same day, hitting the floor price. The deterioration in the company’s cash flow made it difficult to meet short-term liabilities.
Kontrolmatik’s management applied for financial restructuring to overcome the cash flow squeeze. However, two separate private sector coupon payments due on June 5, 2026, were also disrupted.
Insider Sales Shook Investor Confidence
One of the developments accelerating the market disruption was insider sales on April 17, 2026. Ömer Ünsalan and Sami Aslanhan sold 78,518,092 nominal shares, representing 6.04% of the company’s capital, at a price of 10 lira per share.
The insiders announced that the proceeds from the sale would be provided to the company as an interest-free loan to strengthen working capital. Despite this, investors reacted negatively, and further sales followed.
Subsequent default announcements further increased market unease. Once one of the notable companies in Borsa Istanbul’s technology and energy sectors, Kontrolmatik now operates with a significantly reduced market value.
