According to the decision published in the Capital Markets Board of Türkiye’s (CMB) weekly newsletter dated 16 July 2026 and numbered 2026/45, Kardemir Çelik Sanayi A.Ş. will offer a total of 128 million shares to investors at a fixed price of TRY 35 per share. The gross size of the initial public offering (IPO) is estimated at TRY 4.48 billion.
Within the scope of the IPO, 110 million shares will be issued through a capital increase, while 18 million shares will be offered through the sale of existing shareholders’ stakes. Accordingly, gross proceeds of approximately TRY 3.85 billion are expected to be generated from the capital increase portion, while the secondary offering by existing shareholders is expected to generate gross proceeds of TRY 630 million.
Issued capital to increase to TRY 830 million
According to the CMB bulletin, Kardemir Çelik’s issued capital of TRY 720 million will be increased to TRY 830 million through a paid-in capital increase of TRY 110 million. The funds raised through the capital increase will be directly injected into the company.
18 million shares to be offered through secondary share sale
As part of the secondary offering, a total of 18 million Class B shares with a nominal value of TRY 18 million will be offered to investors. These shares consist of 9 million shares held by existing shareholder Tevfik Önder Karalp, 4.5 million shares held by Özge Yastı, and 4.5 million shares held by Özlem Bakırel.
The IPO will be conducted at a fixed price of TRY 35 per share, with a total of 128 million shares offered to investors, bringing the gross transaction size to TRY 4.48 billion. This figure represents the gross IPO proceeds calculated before the deduction of offering expenses and other related costs.
Comments
No comment yet.