Cem Öztüre, Chairman of the Board of Directors of Vişne Madencilik, who evaluated the public offering as ‘an important milestone’ on the way to institutionalisation, said that they will use most of the income from the public offering in financing new investments for their existing factories. Öztüre said, ‘Our goal is to reinforce our strong position in the market by developing lime products in the current product composition through R&D studies and to expand into new sectors. In addition, we aim to increase our export activities by increasing capacity in all our factories, especially in our Narlı factory.’
Vişne Madencilik, operating in the mining sector, is being offered to the public. Founded in 1952 in Bergama district of Izmir by its founder Nihat Mithat Öztüre, 20.51 % of the company's capital will be offered to the public. In the public offering, which will be held on 3-4 and 5 February 2025 through the ‘Fixed Price Demand Collection’ method through a consortium of 41 intermediary institutions under the leadership of Tera Yatırım, the sales price per share was determined as TL 37.44 .
In the public offering, shares with a total nominal value of TL 24 million will be offered for sale, of which TL 17 million nominal value will be capital increase and TL 7 million nominal value will be shareholder sale. The size of the public offering will be TL 898 million 560 thousand.
''Public offering will be a milestone on the path to institutionalization''
Evaluating the public offering as an important milestone in strengthening the company's corporate identity, brand recognition, and visibility, Vişne Madencilik Chairman of the Board Cem Öztüre said:
"Our company achieved 8.4% of Türkiye's lime production by the end of 2023 and is ranked first in Adana, Osmaniye, Hatay, Kahramanmaraş, and Gaziantep, where we operate, and second in production volume among lime producers across Türkiye. With 48.1% of our production focused on the iron and steel sector, lime is used as a raw material in many industries, including flue gas desulfurization in factories, moisture and gas absorption in the recycling plastics industry, treatment plants, sugar production, glass and paper industries, and animal feed production. We also supply lime as a pH balancer for acidic agricultural lands and as a stabilization material for strengthening clayey soft soils. Lime use is becoming more common as it is now being used in asphalt to build stronger roads. Additionally, with our product range for key industries in our country, such as gold producers, slaked lime, and the construction industry, we contribute significant added value to Türkiye's economy. With the new kilns we commissioned in 2023, our total production capacity has reached 810,000 tons per year. Therefore, we believe that the public offering will not only support institutionalization but also positively impact our production capacity and profitability."
Will finance new investments with public offering revenue
Providing details about the use of funds from the public offering, Öztüre said:
“The net revenue from the public offering will primarily be used as follows: around 40-45% will be allocated for the installation of a raw material preparation facility, including all support equipment and infrastructure, at our Çelemli factory. About 19-23% will be used to finance investments in the micronized lime grinding line and equipment at our Narlı factory. The remaining funds will be directed to ongoing investments, including the hydraulic lime mixing line, lime slaking, winding facility, large bag filling, packaging, and wrapping facilities, mainly at our Çelemli and Narlı factories.”
Cem Öztüre stated that the goal of these new investments is to expand the company’s product range and increase its market share. Summarizing future growth and investment plans, he said:
“We plan to establish new facilities to integrate our production units, improve the efficiency of operational processes, and respond quickly to domestic and international market demands. Our target is to become an active producer in the hydrated and micronized lime market. Especially with micronized lime production, we aim to reach new sectors in the global market. In this context, developing lime products in our current product range through R&D efforts is one of our strategic objectives.”
He also added: “We aim to increase capacity across all our factories, especially at our Narlı factory, to boost our export activities. On the other hand, we plan to enter the solar energy field to produce electricity, aiming to reduce our carbon footprint and support sustainable development. In line with our sustainable growth goals, we have accelerated our digitalization efforts. From raw material supply to production and product delivery to customers, we are investing in digitalization to monitor and report all processes electronically.”
"84.3% of our resources come from equity"
Providing information on the company’s 2024 performance and financial results, Öztüre said:
“As of September 30, 2024, our equity stands at TL 2.127 billion , making up 84.3% of our total resources. Our total assets reached TL 2.524 billion during the same period, while our revenue for the first nine months of 2024 was TL 829.856 million. Last year, during the same period, our unslaked lime (calcium oxide) product accounted for the largest share of sales at 58%. Aggregate products ranked second, followed by slaked lime (calcium hydroxide) in third place. Our net profit for the nine months of 2024 increased by 1204.4% compared to the same period last year, reaching TL 26.586 million ,” he said.
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