Gülermak's IPO Subscription Begins Tomorrow

Gülermak, known for its large-scale projects both domestically and internationally, is starting the demand collection process for one of the year's largest initial public offerings (IPOs) on Borsa Istanbul. With the demand collection to take place on January 8, 9, and 10, the company aims to reach a public offering size of 4,037,500,000 TL. If additional sales occur, this figure could rise to 4,845,000,000 TL.

Mustafa Tuncer, a member of the Board of Directors of Gülermak, stated that they will focus on new investments with the income generated from the IPO and further solidify their strong position in international projects. Tuncer mentioned that a portion of the revenue from the IPO would be used for the purchase of machinery and equipment, while another portion would be allocated as working capital for public-private partnership projects.

Regarding the IPO details and the company's objectives, the fixed price per share has been set at 125 TL. The company’s issued capital will increase from 300 million TL to 322 million 600 thousand TL. During this process, it is planned to offer a total of 32 million 300 thousand TL nominal value shares. If additional sales are realized, this figure could reach 38 million 760 thousand TL. Post-IPO, including additional sales, the free float ratio is expected to be 12.01%.

For domestic individual investors, 40% of the allocation is designated, while 10% is for investors with high demand, and 50% is allocated to domestic institutional investors. Conducted through a consortium of 43 brokerage houses led by QNB Invest, the IPO presents a significant opportunity for investors.

In terms of financial performance, according to Gülermak’s financial results for the first nine months of 2024, the company's revenue has increased by 32% compared to the same period last year, reaching 21.2 billion TL. The net profit for the period was recorded at 2.7 billion TL. The company also declared a net cash position of 2.7 billion TL during the same period. Tuncer believes that these strong financial results will enhance interest in the IPO process.

With a focus on new goals based on international successes, Gülermak, established in Ankara in 1958, has signed significant international projects, particularly in the transportation sector, over the past 20 years. The company generates 65% of its income from abroad through metro, railway, tram, and highway projects in countries such as Poland, Sweden, the UAE, and India. Having successfully completed 111 projects worldwide, Gülermak aims to grow further with its new partners on Borsa Istanbul.

İpek Hekimoğlu, Deputy General Manager of QNB Invest, expressed a strong expectation of success for Gülermak's IPO on Borsa Istanbul with its robust international projects and invited all investors to take advantage of this opportunity.