Borsa Istanbul held bell-ringing ceremony for Altınay Defense Technologies

Following the demand collection process on May 8-9-10 for Altınay Defense Technologies, a bell-ringing ceremony was held at Borsa Istanbul.

During the demand collection process, Altınay Defense Technologies received significant attention with 3.6 million individual applications.

The bell-ringing ceremony was attended by Hakan Altınay, Chairman of the Board of Directors of Altınay Defense Technologies, Korkmaz Ergun, General Manager of Borsa Istanbul, Kamil Kılıç, General Manager of Letven Capital, as well as executives from TSKB and Ziraat Investment.

Korkmaz Ergun, General Manager of Borsa Istanbul AŞ, said during his speech at the ceremony that Altınay Defense Technologies, which has realized valuable projects in the development of Turkey’s defense systems, has made significant contributions to the localization of the defense industry.

Ergun stated, “High technology, qualified human resources, as well as qualified financial resources are required. At this point, our company has chosen to provide financial resources through public offering and has decided to share its growth and success with new partners. Therefore, I congratulate the valuable executives of the company.”

“We Have 3.6 Million New Partners” Hakan Altınay, Chairman of the Board of Directors of Altınay Defense Technologies, stated that the public offering would strengthen both their existing investments and provide value to future projects.

Altınay said, “We are proud that our nation supports Altınay Defense Technologies in contributing to national defense. We are delighted to participate more in the success story of our country’s defense industry together with our investors. Altınay Defense Technologies has 3.6 million new partners, and I congratulate them all and thank them for their interest.”

Altınay emphasized the intense demand they received, stating, “As a company listed on the stock exchange, we have passed a critical threshold on the path to institutionalization. We aim to allocate a significant portion of the revenue we obtained during the public offering process to new investments for growth. Our investors will also be partners in this growth journey with us.”

Kamil Kılıç, General Manager of Letven Capital and Member of the Board of Directors of Altınay Defense Technologies, expressed that with the public offering, they have taken an important step towards achieving their growth targets in the coming period.

Kılıç said, “We see the demand, which is 7 times the total allocation amount, as a reflection of the trust in the company.”

The size of the public offering was approximately 1.9 billion Turkish liras, with a total of 58,823,530 nominal/shares offered for sale, consisting of a capital increase of 35,294,118 nominal liras and a share sale of 23,529,412 nominal liras. After the public offering, Altınay Defense Technologies’ public float rate was realized as 25%. Turkey Industrial Development Bank served as the consortium leader, with Ziraat Investment and Investment Finansman as co-leaders.

source prepared by Melisa Beğiç

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