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Morgan Stanley Capital International (MSCI), a leading global provider of stock market indices, announced Friday its third-quarter 2025 index review, confirming that four Turkish companies will be removed from its Global Standard Index, with no new additions from Türkiye.
The companies affected are Coca-Cola Icecek, the Türkiye-based bottler for Coca-Cola products across several regional markets; Pegasus Airlines, one of Türkiye’s largest low-cost carriers; Sasa Polyester, a major producer of polyester fibers and chemicals; and Sisecam, a global manufacturer of glass and chemicals.
The changes will take effect after the close of trading on Aug. 26, 2025.
In the MSCI Global Small Cap Index, Türkiye will see six companies added and 10 removed. The new additions are Efor Cay Sanayi (tea producer), Margun Enerji Uretim (renewable energy producer), Pegasus Airlines, Tera Yatirim Menkul (investment and brokerage firm), Sisecam, and Visne Madencilik (mining company).
The removals from the small-cap list include Akfen Renewable Energy, Eczacibasi Pharmaceutical, Kontrolmatik (engineering and technology solutions), Konya Cement (cement producer), Mia Technology (IT services), Politeknik (metal manufacturing), Smart Solar Energy, Tureks Tourism, Yeo Technology (engineering and energy), and Zorlu Energy.
MSCI is an independent, publicly traded company that designs and maintains indices used worldwide by asset managers, pension funds, and other institutional investors.
Being part of an MSCI index often increases a company’s visibility among global investors because many investment funds are designed to track these indices. When a company is removed, such funds may reduce or liquidate their holdings in that stock, which can affect trading volumes and share prices.
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