1000 Yatirimlar Holding (BINHO) has sold 10mn shares, amounting to a 20% stake, via a Borsa Istanbul initial public offering (IPO), A1 Capital Yatirim Menkul Degerler (A1CAP), which acted as the intermediary in the offering, said on November 16.
The transaction was concluded for a consideration of Turkish lira (TRY) 1.2bn ($41mn), or TRY 125 per share. The bookbuilding was held during November 14-15.
No participants in the IPO acquired more than 5% of the offered shares. According to local legislation, intermediaries are obliged to file the details of real or legal persons who acquire more than 5% of offered shares in a Borsa Istanbul IPO.
Via the IPO, 1000 hiked its paid-in capital by TRY 7mn to TRY 47mn while its shareholders sold an additional 3mn existing shares.
Following the IPO, Usame Erdogan, Mustafa Saim Birpinar and Kadir Can Abdik control identical stakes of 18% in the company, including 2mn privileged Type A shares each.
Table: 1000’s shareholding structure prior to the IPO.
So far in 2023, a total of 45 companies have raised a combined sum of TRY 63bn ($2bn) in IPOs conducted on Borsa Istanbul. In 2022, 40 companies raised TRY 19bn ($1bn). In 2021, 52 companies raised TRY 22bn ($2bn).
|IPOs on Borsa Istanbul|
|Nov-23||1000 Yatirimlar Holding (BinBin/BINHO)||20%||TRY1bn||IPO||Usame Erdogan|
|Nov-23||Tureks Turunc Madencilik (MARBL)||26%||TRY647mn||IPO||Turunc, Akyatan|