The company reported that 40 million lots will be offered in this process and 10 million lots will be sold by the company's shareholders. The free float was determined as 16.25%.
IPO details and shareholders
Within the scope of the public offering of Ekinciler Demir ve Çelik, shareholders Namık Kemal Ekinci, Faruk Ekinci, Haluk Ekinci, Tarık Ekinci, Neziha Ekinci and Sıdıka Baytan will each offer 1,713,972 lots, İlker Eker, İlkay Eker and Soner Eker will each offer 571,324 lots and Recep Ekinci will offer 2,196 lots of shares.
Of the proceeds from the public offering, 60% will be allocated to renewable energy investments, 30% to raw material supply and working capital financing, 5% to scrap processing and preparation plant investments, and 5% to billet boiling and coiling system investments.
Information for investors
The amount of shares to be allocated to domestic individual and institutional investors in the public offering will be clarified at a later stage. According to the draft prospectus, price stabilization is not planned and there is a commitment for the issuer and existing shareholders not to sell shares for 1 year.
Ekinciler Demir ve Çelik's position in the sector
Founded in 1983 in Iskenderun, Ekinciler Demir ve Çelik Sanayi A.Ş. is recognized as one of Türkiye's first private enterprises in the iron and steel sector. The Istanbul-based company has also established itself in the global market by exporting to more than 60 countries. It has proven its position in the sector by ranking 72nd in 2021 and 103rd in 2022 in Türkiye's Top 500 Industrial Enterprises. Ekinciler Demir ve Çelik continues its presence in the sector with its innovative management approach and strong workforce.
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