Oncosem aims to have a global say with the resources to come from the public offering

Oncosem, which produces fully automatic chemotherapy drug preparation systems, aims to have a voice on a global scale with the resources that will come from the company’s public offering.

Oncosem Oncological Systems Industry and Trade Inc. completed the bookbuilding process yesterday, following the Borsa Istanbul and CMB audits. The company is expected to start trading on Borsa Istanbul with the “Gong Ceremony” to be held on January 4, 2023.

Erol Celik, Chairman of Oncosem Oncological Systems, told Anadolu Agency (AA) that the public offering process benefited the company in testing institutionalism.

Celik said, “We are currently the market leader in Turkiye. In fact, one out of every two patients is treated with high-tech systems and equipment produced in our facility. We have initiated the process of capital markets in order to create a global structure that can dominate the world market.”

Stating that they are in a position to enter all target markets regardless of geography, Celik emphasized that they have the potential to be successful in these markets.

Stating that their biggest advantage as a company is their R&D studies with the technology they have, Celik said, “We continue to develop our R&D activities continuously. Since we started the business, we have developed and continue to develop the fourth version systems. We invest in human resources and increase our employee quality.”

Expressing that they will allocate most of the money from the public offering for machinery infrastructure to switch to automated production, Celik said that they will use the remaining part for the development of target markets with new factory investment.

Speaking about his promises to his investors, Celik said, “We have made our 1-1.5 and 5-year plans. There will be no paid or bonus capital increase with a share sale for 18 months. A minimum of 40% of the company’s profit will be distributed as dividends for 5 years.”

Çelik pointed out that the company has grown more than they had targeted in 5 years. Emphasizing that the investment process, which started in 2013 with the support of KOSGEB of ₺300 thousand, led to a 300-fold increase in income in 2019, Celik stated that they ranked 24th among the 100 fastest-growing companies in Turkiye in the same year.

Stating that they currently serve more than 50% of the domestic market, Celik said that they will increase this share.

Stating that the share of exports in their total revenues is 25%, Celik said, “Our goal in the next 1.5-2 years is to replace our domestic revenues with our foreign revenues. In other words, we have a goal of obtaining 75% of our revenues from abroad.”

Celik said that they export to more than 30 countries in Africa, Europe, Central Asia and America and that they aim to increase their market share in these regions. Celik stated that they will switch to a 90% automated production process in 2023, and that this will increase their capacity by 6-7 times.

Source: AA / Translated by Irem Yildiz

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