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- October 14, 202618°
- BIST10012,251+0.82%
- USD49.37+0.07%
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- INTEREST37.00%-1.00
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- October 14, 202618°
Kardemir Çelik begins trading on Borsa Istanbul under symbol 'KARCL'
Kardemir Çelik began trading on Borsa Istanbul's Star Market under the symbol 'KARCL' following its public offering. The IPO drew 814,853 investors, and demand reached 4.28 times the planned volume.
Shares of Kardemir Çelik started trading on Borsa Istanbul's Star Market under the symbol “KARCL” following the completion of the public offering. Borsa Istanbul CEO Korkmaz Ergun, Kardemir Çelik Chairman Tevfik Önder Karalp, and other officials attended the gong ceremony held for the company.
The company conducted its bookbuilding process on July 22-24. All shares with a nominal value of 128 million lira, offered at 35 lira per share, were sold. A total of 814,853 investors participated in the IPO, and demand reached approximately 4.28 times the planned offering size.
Speaking at the ceremony, Borsa Istanbul CEO Korkmaz Ergun noted that Kardemir Çelik ranks among the leaders of the metal industry with its high production capacity. Ergun said, “With its internationally standard production quality and export-driven growth, the company has secured a strong position in global markets. The funds from the IPO will be allocated to raw material procurement and facility investments.” He also thanked those who contributed to the IPO process and said, “I welcome Kardemir Çelik to our exchange family.”
Kardemir Çelik Chairman Tevfik Önder Karalp stated that the company operates with 5 production, 5 auxiliary, and 2 energy facilities in İzmir and Denizli, and that with 1,350 employees and exports to more than 100 countries, it is one of Turkey’s leading iron and steel producers.
Highlighting investments that have boosted capacity in recent years, Karalp said, “With the investments we made during a challenging period like the pandemic, we managed to quadruple our production capacity in four years.” Emphasizing that the strong demand in the IPO reflected confidence, Karalp added, “We are now a much larger family walking toward the same goal with hundreds of thousands of investors across Turkey. We will honor their trust by working harder, producing more, and becoming a more transparent, stronger, and sustainable company.”
Karalp added that they are determined to increase their effectiveness in international markets and to make the Kardemir Çelik brand a stronger player on a global scale.
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