Koton started to be traded on Borsa Istanbul after the bell ceremony held today.
Women’s clothing brand Koton will be traded on Borsa Istanbul Star Market with the code “KOTON” as of today, after the book building on April 30-May 3.
The company’s public offering, which was carried out through the consortium formed under the leadership of IS Investment and co-leadership of Ak Investment, received 1.4 times the demand from domestic individual investors and company employees and 4.8 times the demand from domestic corporate investors.
Koton will use 30-40% of the proceeds from the IPO, amounting to ₺4.1663 billion, for domestic and international store openings and renovations, warehouse automation investments, and information technology investments. The remaining 60-70% will be allocated to operational capital financing for growth-oriented product acquisitions.
“Koton took a very important step”
In his speech at the ceremony, Borsa Istanbul General Manager Korkmaz Ergun stated that Koton is a good example of brand building and entrepreneurship and said:
“It is a very successful business model with its brand, partnership structure, suppliers, customers, corporate structure, sustainability principles, social responsibility and many other aspects. By starting to be traded on our Stock Exchange today, it has not only accessed the long-term financing it needs to achieve its goals, but also taken a very important step that will contribute to the growth and development of this successful business model and brand. I congratulate Koton’s valuable managers for this strategic decision.”
“We will work to make Koton the ‘world’s fashion brand'”
Koton Chairman of the Board of Directors Yilmaz Yilmaz also stated that it was a very important and historical day for Koton and that they opened a small shop of 25 square meters in Kuzguncuk 36 years ago, and that small shop was the starting point of everything and all their dreams.
Stating that they set out with his wife Gulden Yilmaz and that today they are a family of 7 thousand 900 people, Yilmaz said:
“Now, our investors have been added to this big family. I would like to express my endless gratitude to our 3 million 473 thousand 380 new partners who trust in the future of Koton. A brand new era begins for us with the shares of Koton starting to be traded in Borsa Istanbul. Our goals, our dreams, our responsibilities are big. We are currently present in 70 countries. Our goal is to meet more consumers in more countries. We will work to make Koton, Turkiye’s fashion brand, the world’s fashion brand, and we will succeed together. I would like to thank all our investors who supported us.”
Koton Board Member Gulden Yilmaz, Koton CEO A. Bulent Sabuncu, Is Yatirim Menkul Degerler General Manager Kenan Ayvaci, consortium co-leader Ak Yatirim Menkul Degerler’s General Manager Mert Erdogmus, company officials and guests attended the ceremony.
Source: AA / Prepared by Irem Yildiz