ISTANBUL — Türkiye’s Capital Markets Board (SPK) has approved the initial public offering (IPO) of Kardemir Çelik Sanayi A.Ş., with the company set to offer shares at a fixed price of TRY 35.00 per share.
The IPO is expected to raise approximately TRY 4.48 billion through the sale of 128 million shares, including 110 million newly issued shares and 18 million existing shares offered by current shareholders. Following the capital increase, the company’s paid-in capital will rise from TRY 720 million to TRY 830 million, resulting in a 15.42% free float.
The book-building period has been scheduled for July 22–24, 2026, with shares to be allocated through a fixed-price offering. Retail domestic investors will receive shares on an equal distribution basis, while a proportional allocation method will be used for investors submitting high-volume orders.
Kardemir Çelik operates integrated steel production facilities in İzmir and Denizli, manufacturing products including billet steel, wire rod, reinforcing bars, and structural steel profiles. The company has an annual production capacity of approximately 2.5 million tonnes and also owns renewable energy assets supporting its industrial operations.
According to the prospectus, the IPO proceeds will primarily be used to finance capacity expansion, modernization projects, renewable energy investments, and working capital needs. The company and its existing shareholders have also committed to a one-year lock-up period, while no price stabilization mechanism is planned following the listing.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök