Koç Metalurji A.Ş., one of Turkey's leading metallurgical companies, announced that it has applied to the Capital Markets Board (CMB) for public offering. According to the draft prospectus made public by the company, details and strategies in the public offering process were revealed.
Shares of Koç Metalurji, which has applied for public offering, with a nominal value of 125,000,000 TL, will be distributed equally to investors. The consortium leadership of the public offering is A1 Capital Yatırım Menkul Değerler A.Ş. will undertake. In case of CMB's approval, the company will start trading on Borsa Istanbul "Star Market".
The details of the public offering were determined as follows:
Public Offering Form:
Capital Increase: 105,000,000 Lots
Partner Sale: 20,000,000 Lots (Adil Koç)
Uses of Public Offering Proceeds:
35% raw material investment
10% Modernization of existing production facility
35% Financing of renewable energy investments
35% Raw material supply and working capital
Price Stability:
Not planned
Commitment Not to Sell:
1 Year, Issuer.
1 Year, Partners.
Free Float Rate:
27.47%.
Koç Metalurji A.Ş. is an iron and steel company that was founded in 1978 and changed its name in 2016. The company, which operates Turkey's first and only coke factory, operates with a blast furnace facility with a capacity of 500 thousand tons/year in Payas and an electric arc furnace facility with a capacity of 1.2 million tons/year in Toprakkale. The company plays a leading role in the iron and steel industry with its high quality and environmentally friendly products.
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