The initial public offering (IPO) application of Kardemir Çelik, one of Türkiye’s long-established steel producers, has been approved by the Capital Markets Board (CMB). The sale price per share has been set at 35.0 TL, and the IPO size is targeted at approximately 4.48 billion TL.
The sale price per share for Kardemir Çelik’s IPO—led by A1 Capital, Vakıf Yatırım, and Ziraat Yatırım—has been set at 35.0 TL. A total of 128 million TL in nominal value shares will be offered to the public: 110 million TL via a capital increase (raising the company's issued capital from 720 million TL to 830 million TL) and 18 million TL via a sale of existing shares.
The IPO, to be conducted using the fixed-price book-building and best-effort underwriting methods, aims for a total size of approximately 4.48 billion TL, with a projected free-float ratio of 15.42%.
Having begun its industrial journey in 1986 with its first production facility in Denizli, Kardemir Çelik—which boasts over half a century of production experience—now ranks among Turkey’s largest industrial and exporting companies, employing more than 1,350 people. As the 9th largest industrial company in the Aegean Region, Kardemir Çelik operates seven production facilities across İzmir and Denizli with an annual production capacity of 2.5 million tons, manufacturing a vast product range comprising 10,000 different items. These products include steel billets, wire rods, and rebar; It is divided into main groups as commercial and structural profiles.
The Company—which carries out production up to the final product using green energy, thanks to its air separation plant, carbon production facility, and wind power plants—operates a steelworks that produces steel billets from scrap using an electric arc furnace (equipped with a FESCON system that converts flue gas into energy), as well as wire rod and rebar production facilities and profile factories (two in İzmir-Aliağa and one in Denizli). Taking significant strides in sustainability, Kardemir Çelik continues to contribute to environmental sustainability and reduce energy costs through the 19.7 MW Bozyaka Wind Power Plant (WPP), a 4 MW Solar Power Plant (SPP), and an ORC system that generates 1 MW of electricity by recovering waste heat from the rolling mill reheating furnace flue.
