The public offering of 20.20% of the solar panel producer CW Enerji will be held between April 26-28, with the method of “capital increase and joint sale”.
According to the statement made by CW Enerji, the public offering price of the company was determined as ₺108.60. Under the leadership of Deniz Yatirim and QNB Finansinvest, the issued capital of the company will increase from ₺105 million to ₺123 million 750 thousand in the public offering, which will be held with the method of capital increase and joint sale. The shares with a nominal value of ₺18 million 750 thousand to be increased will be offered to the public. After the public offering, 20.20% of CW Enerji’s capital will be traded on the Borsa Istanbul (BIST). In case of using the additional sale right of ₺5 million in the public offering, the free float rate will be 24.24%.
While the size of the public offering is expected to be approximately ₺3.3 billion with additional sales, ₺2 billion income from the capital increase will be used for investment and modernization expenditures, primarily for strengthening the working capital, for the purchase of licensed or unlicensed SPP power plants, and for roof and land SPPs for the company’s own consumption.
Only individual investors and domestic institutional investors can participate in the public offering. Equal distribution method will be applied to individual investors. Domestic institutional investors will be able to apply to Deniz Yatirim and QNB Finansinvest for their requests.
“We care about the interest of investors with high environmental awareness”
Speaking at the press conference where the details of the public offering were shared, CW Enerji Chairman Tarik Sarvan said that the sun, which is a natural, renewable and unlimited energy source, has a critical importance for the future of the world.
Drawing attention to the importance of the potential of the sun as a sustainable and clean energy source, Sarvan said, “Departing from this, we attach importance to the interest of investors with high environmental awareness and who take responsibility for the future of our planet. As CW Enerji, we have accomplished very important works in Turkiye in 13 years. We are opening our doors to investors with whom we will grow together in the coming years and who will do useful work for the future of our planet. Our efforts to leave a more livable world to future generations will gain even more meaning with the support of our investors, who will be partners with us.”
Stating that CW Enerji’s total annual turnover increased by 374.4% last year to approximately ₺4 billion 758 million, and its net profit reached ₺904 million as of the same period, Sarvan said:
“CW Enerji has accomplished very good works in Turkiye since its establishment in 2010. We have reached an annual peak solar panel production capacity of 1800 megawatts at our facility in Antalya Organized Industrial Zone with a closed area of 28,230 square meters, established on a total area of 44 thousand 734 square meters. In addition, our old production facility with a closed area of 6 thousand 747 square meters, located in the 3rd Section of the Antalya Organized Industrial Zone, was used as a warehouse, but was restored and turned into an Eva production facility. By 2023, we have created a new place with an area of 19 thousand 966 square meters in the AOSB 1st Region, right next to our central facility, and we have created a production and warehouse area for Lithium Battery energy storage systems. In addition to all these, we also have a production and storage area with an area of 2 thousand 492 square meters in the Antalya Free Zone. We will significantly reduce our imported input costs by starting the production of EVA, which is an important raw material in the production of solar panels, which we have to import because it has not been produced in Turkiye until now. In short, we have a strong structure both in terms of technology and cash flow. However, institutionalization is one of the most important conditions for being strong in global competition. In this sense, our main goal is to institutionalize and become an accountable transparent company through public offering. In addition to the priority we have given to domestic demand, we aim to develop in export markets as well.”
Source: AA / Prepared by Irem Yildiz