ISTANBUL — Turkish watch retailer and distributor Saat&Saat Sanayi ve Ticaret A.Ş. has received approval from Türkiye’s Capital Markets Board (SPK) to proceed with its initial public offering (IPO), with bookbuilding scheduled for July 6–8.

The company will offer shares at TL 56.00 per share. Following the offering, the free float is expected to reach 12.16%, including a potential over-allotment option. The IPO comprises both newly issued shares through a capital increase and shares sold by existing shareholders.

Saat&Saat said the listing is intended to strengthen its financial structure and support its long-term growth strategy. Proceeds raised through the capital increase will primarily be used to finance working capital needs and reduce financial debt, while proceeds from the secondary share sale will be received by the selling shareholders.

Founded in 1994, Saat&Saat is one of Türkiye’s leading distributors and retailers of international watch and accessory brands. The company operates an extensive retail and e-commerce network and represents globally recognized brands including Seiko, Garmin, Fossil, Emporio Armani, Michael Kors, Tommy Hilfiger, Guess, Versace, Boss and several others.

The IPO follows a series of public offerings approved by the SPK this year as Türkiye’s equity market continues to attract companies seeking to diversify funding sources and finance future expansion.