ISTANBUL — Renewable energy company Masfen Enerji AŞ has begun trading on Borsa Istanbul under the ticker MASFN, following the completion of its initial public offering (IPO).
The company’s shares officially started trading after a gong ceremony held at Borsa Istanbul on July 30, attended by Borsa Istanbul General Manager Korkmaz Ergun, Masfen Enerji founding partners Mehmet Songur and Kemal Onur Karakuş, board members and Deniz Yatırım General Manager Hüseyin Melih Akosman.
Focus on Solar, Wind and Energy Storage
Borsa Istanbul General Manager Korkmaz Ergun said Masfen Enerji operates across the entire energy production chain, from the installation of solar power plants to their operation.
He said the company would use proceeds from the IPO to finance new projects, particularly in wind power and energy storage, helping expand its activities in these areas.
Masfen Enerji founding partner Mehmet Songur said the company has specialized in the engineering, procurement and construction of solar power plants since its establishment, providing solutions for public and private-sector projects in Türkiye and abroad.
The company currently operates facilities across 10 provinces in Türkiye, Greece and Romania, with a total electricity generation capacity of 117 megawatts. It has also completed the installation and refurbishment of more than 611 MW of solar power plants to date.
837 MW Project Pipeline
Songur said Masfen Enerji is continuing investments in Romania, including energy-storage projects planned to become operational in 2027.
The company also has a secondary project portfolio totaling 837 MW across solar, wind and energy storage projects in Türkiye and international markets.
Masfen Enerji plans to allocate the proceeds from its IPO to investments in solar and wind power plants and energy storage facilities, with the aim of expanding its electricity generation portfolio.
IPO Demand Exceeded TRY 19 Billion
Deniz Yatırım General Manager Hüseyin Melih Akosman said total demand for the Masfen Enerji IPO exceeded TRY 19.3 billion, approximately five times the size of the offering, despite a busy IPO calendar.
Akosman described the strong investor interest as an important indicator of confidence in both Masfen Enerji’s performance and Türkiye’s capital markets.
The company’s listing comes as renewable energy and energy storage investments gain importance in Türkiye’s efforts to expand domestic generation capacity and accelerate the country’s energy transition.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök