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Çimko Cement awaits approval for public offering

Çimko Cement has submitted its prospectus to the CMB for the public offering process, which is also being followed by investors, and is awaiting approval.

Çimko Cement awaits approval for public offering

Approval from the CMB is awaited for the public offering of Çimko Cement and Concrete Industry. The company, which submitted its draft prospectus to the CMB, is currently in the approval process for the public offering. There has been no development yet, but it has been stated that a total of 75,789,472 shares will be sold.

It was informed that İş Yatırım Menkul Değerler A.Ş. will lead the public offering of Çimko, which does not shy away from offering innovative technologies such as renewable energy and alternative fuel use. Of the shares to be sold in the public offering, 18,947,368 will be offered by capital increase and 56,842,104 by the joint sale method.

Çimko Cement is considering using the proceeds from the public offering for investments in the sector, company acquisitions and financing of working capital. The company's public offering is expected to take place in the first 6 months of 2024.

In Borsa Istanbul, price stabilization procedures are planned for Cimko shares, which will have a 20% free float after the public offering. During the ongoing approval process, relevant details will be announced to the public. The banks and brokerage firms that will be involved in the public offering will also be included in the prospectus, which is awaiting approval in the coming days.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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