Approval from CMB for the Public Offering of Aydem Renewables

08.04.2021
Approval from CMB for the Public Offering of Aydem Renewables

The IPO application of Aydem Renewables, the affiliate of Aydem Energy, one of the pioneers and leading players in the energy sector in Turkey with more than 40 years of history, made to the Capital Markets Board (CMB) has been approved.

Accordingly, the book-building dates for the public offering have been determined as April 19th to 22nd and the price range per share as to be TL 8.50-9.90.

The size of the public offering, together with the sales of additional shares, will range from 1.1 billion TL to 1.3 billion TL in total; the free float rate of the company will be 18.44% in total, together with the sales of additional shares.

The public offering, where the domestic consortium leadership is undertaken by Garanti Investment, İş Investment, Türkiye Kalkınma ve Yatırım Bankası, and Yapı Kredi Investment, and where Halk Investment, Vakıf Investment, and Ziraat Investment will act as co-leaders, will be realized through a capital increase and joint sales.

A total of 32 institutions, including domestic consortium leaders and intermediary institutions, will participate in the public offering, which will be realized by the proportional distribution method.

An amount of TL 110,000,000 in total, the company's capital TL 700,000,000, out of which TL 130.000.000 in nominal value will be offered to public including additional sales, will be increased to TL 705,000,000 TL by increasing TL 5,000,000.

During the public offering process, the price range per share has been determined as to be TL 8.50 to TL 9.90, and the book-building dates have been determined as to be 19th to 22nd April.

Aydem Renewables is expected to start trading on Borsa Istanbul as of April 29th. Aydem Renewables Inc., whose public offering application has been approved by the CMB, is qualified as Turkey's largest company that produces energy exclusively from renewable sources.

Click to watch Aydem Renewables' public offering campaign.