KAPEKS Kimya will begin collecting orders on August 12 as part of its initial public offering process. Shares with a nominal value of 25.1 million lira will be offered for sale in the transaction, which will be carried out entirely through a capital increase.
The offering is expected to reach approximately 2.359 billion lira, while the free float ratio is projected to be 20.06 percent. No shares held by existing shareholders will be sold in the transaction, and all proceeds will go to the company.
Half of the proceeds will be allocated to investments
KAPEKS plans to use approximately 40-50 percent of the IPO proceeds for a new production facility, investment opportunities and automation investments in its existing production lines. The remaining 50-60 percent is expected to be allocated to raw material procurement and strengthening working capital.
The company's growth plans include investments in new production facilities and warehouses in Türkiye and abroad, acquisitions, capacity expansion and product development projects.
Production and export activities
Founded in Ankara in 1996, KAPEKS produces ANFO, emulsion explosives, non-electric and electronic detonators, and shock tubes at its facilities in the Şabanözü district of Çankırı. The company also provides solutions in geotechnical analysis, blasting design, site monitoring and data analytics.
KAPEKS generated revenue of 3.84 billion lira in 2025. Approximately 16 percent of the company's revenue came from exports.
Production continues on the first shock tube line, which has an annual capacity of 28,512 kilometers, while investment is continuing in a second line that will provide an additional capacity of 38,800 kilometers. Production trials on the second line are targeted to begin by the end of 2026.
The company maintains its international operations in Liberia and Uzbekistan. KAPEKS also exports to more than 15 countries across approximately three continents.
Investment plans expand
KAPEKS Kimya Chairman of the Board Hakan Kaya said the company had been operating in the civil explosives sector for approximately 30 years. Kaya said they regarded technology, engineering and human resources as the core elements of the company's vision, adding that the company aimed to continue its new investments.
KAPEKS Kimya Executive Board Chairman Özkan Düzgün said the company's main production facilities were located on an area of approximately 1 million square meters in Çankırı's Şabanözü district. Düzgün noted that civil explosives are used not only in mining but also in dams, metro systems, road tunnels, high-speed rail projects, and cement and aggregate production, adding that the company provides engineering and technology support in these areas.
Düzgün said developments in renewable energy, semiconductor and chip technologies, rare earth elements, precious metals and the defense industry were increasing the need for underground resources. Düzgün said investments in Uzbekistan were continuing, adding that plans were in place to establish facilities on an area of approximately 1.2 million square meters in Manisa and that investment opportunities in technology and the defense industry could be assessed in the future.
Allocation and price stabilization plan
TSKB Capital Markets Manager Aydın Ünüvar said the company had a net cash position and met the criteria for the participation index. Ünüvar reiterated that the IPO would be carried out entirely through a capital increase.
In the IPO, 50 percent of the allocation is planned for domestic individual investors, 25 percent for domestic institutional investors, 20 percent for foreign institutional investors and 5 percent for investors submitting large applications. In addition, price stabilization transactions are expected to be carried out by Ziraat Yatırım for 15 days.
