Sixteen companies began trading on Borsa Istanbul in the first half of 2026, raising a combined TRY24.6bn ($0.5bn), according to an analysis by Matriks Haber.

The pace points to sustained investor appetite for new listings, with 14 of the 16 debutants trading above their offering prices by June 30 and a further seven companies cleared by the Capital Markets Board (SPK) expected to list in July.

Software developer Netcad Yazilim delivered the strongest return of the period, gaining around 185.8% on its offer price as of June 30, according to Matriks Haber. Savur Gayrimenkul Yatirim Ortakligi ranked second with about 173.5% and Z Gayrimenkul Yatirim Ortakligi third with roughly 149.2%.

Among companies that went public in the second quarter, Ekinciler Demir ve Celik Sanayi traded about 42.44% above its offer price, while Agaoglu Avrasya Gayrimenkul Yatirim Ortakligi lost around 23.16% of its value.

Fourteen of the listings were completed in the first quarter, with only two in the second. Agaoglu Avrasya began trading on the Star Market on April 9 at an offer price of TRY21, raising TRY3.71bn, followed by Ekinciler Demir ve Celik Sanayi on May 22 at TRY45, raising TRY2.34bn. The two second-quarter offerings raised a combined TRY6.05bn, with no new listings in June.

The number of companies trading on Borsa Istanbul rose to 606 at the end of the period. The 16 debutants started trading between January 5 and May 22, with two ending the half below their offer prices. Companies that listed in the early months of the year generated the strongest returns, while second-quarter offerings posted more limited performance.

The market gained further momentum in July. Beta Enerji ve Teknoloji began trading on July 1 at an offer price of TRY40, raising TRY2.43bn with demand reaching about 14 times the shares offered. Orzaks Ilac ve Kimya Sanayi Ticaret collected demand between June 29 and July 1 for an offering of TRY3.6bn, while Golda Gida Sanayi ve Ticaret raised TRY805mn in a subscription held over July 1-2, with results announced on July 3 pointing to strong investor interest. Isvea Seramik also collected demand between July 1 and July 3.

Soho Giyim ve Enerji was due to begin trading on July 6 after an offering of about TRY1.5bn, while Saat ve Saat Sanayi ve Ticaret was scheduled to be offered to investors over July 6-8 at TRY56 a share.

Since 1991, the highest number of Turkish IPOs was recorded in 2023 with 56 offerings, while the lowest was in 2001, when a single company went public.