Soybaş Demir Çelik San. ve Tic. A.Ş., one of the important iron and steel companies in Turkey, has submitted its draft prospectus to the Capital Markets Board (CMB) for approval and the countdown has begun in the public offering process for the company. TEKB, Ziraat Yatırımenkul Değerler A.Ş. and Yatırım Finansman Menkul Değerler A.Ş. are expected to lead the iron and steel company for the public offering process; In the public offering to be realised, a total of 62 million 500 thousand shares are planned to be sold. While 50 million of the shares to be sold in the public offering will be offered for sale by capital increase method, 12 million shares will be offered for sale by common sales method.
It is known that Soybaş Demir Çelik will use 55-60% of the net income from the public offering for investments and machinery and equipment purchases, 25-30% for working capital and 15-20% for GES investments.
In the public offering of Soybaş Demir Çelik, which has also gained a place in the international market, the public float rate will be 32.89 per cent and there is data that price stability transactions will continue for 15 days. In the ongoing process, the name of the banks and intermediary institutions participating in the public offering to be made with equal distribution technique to individual investors will be included in the prospectus approved by the CMB.
The public offering is expected to take place in the first 9 months of 2024.
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