Türkiye’s Capital Markets Board (SPK) has approved the initial public offering (IPO) application of Bakırcı Real Estate Investment Trust (Bakırcı GYO), with the offering expected to raise approximately TL 2.16 billion.
The IPO will be conducted under the leadership of İntegral Yatırım Menkul Değerler, with the shares priced at TL 12.93 each.
167 million shares to be offered
As part of the IPO, Bakırcı GYO’s issued capital will be increased from TL 501 million to TL 668 million. A total of 167 million TL nominal-value shares to be issued through the capital increase will be offered to investors.
At the IPO price of TL 12.93, the total offering size is expected to reach TL 2.159 billion. Following completion of the offering, 25% of the company will be publicly traded.
Diversified real estate portfolio
Bakırcı GYO’s portfolio includes residential and commercial properties, tourism assets, student accommodation and logistics investments across various parts of Istanbul.
The company currently generates rental income from assets including Bakırcı Kemer in Eyüpsultan Kemerburgaz, the GOP Student Dormitory Building in Gaziosmanpaşa and Serenity Suites Airport Hotel on the Basın Ekspres corridor in Küçükçekmece.
Two residential projects under development
The company is developing two residential projects. Bakırcı Zenit Topkapı, located in Zeytinburnu, consists of 462 independent units, including 364 residential units and 98 commercial units.
The Bakırcı Kaya Residence project has 90 independent units.
Bakırcı GYO also has two commercial projects under development aimed at expanding its real estate portfolio. The planned Bakırcı Ömerli Logistics Center has approximately 68,500 square meters of construction area, while the Motim İSTOÇ Trade Center in İSTOÇ Mahmutbey has a total construction area of 153,565 square meters.
The SPK approval comes as Türkiye’s IPO market continues to attract companies seeking capital to expand their investment and development activities.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök