Companies raise $1.7 billion in IPOs this year

ISTANBUL

A total of 28 Turkish companies have launched initial public offerings (IPO) since the start of the year, collectively raising $1.7 billion.

This marked the second largest amount raised in IPOs after $2.4 billion collected through public offerings in 2021, according to daily Milliyet.

IPOs also kindled interest in Borsa Istanbul. In two weeks this month, the number of investors in Borsa Istanbul increased by 537,000, the daily reported.

Over the past month, more than 1.2 million investors joined Borsa Istanbul, which brought the number of total investors to 5.6 million.

According to the data from the Central Registry Agency (MKK), the number of investors in Borsa Istanbul grew by 3 million over the past year.

Some 2 million bids on average were submitted by investors in the IPOs launched this year.

Meanwhile, another company, Enerya Enerji, is going public this week.

Founded in 2003, Enerya operates in the field of natural gas distribution under Ahlatcı Holding. It is offering 26.9 percent of shares in IPO at the price of 88.76 Turkish Liras per share.

The book building period for Enerya shares took place between Aug. 14-16.

Enerya Enerji, the second largest private distribution company in Türkiye, has natural gas distribution license in 10 cities for 30 years and serves 1.8 million subscribers.

BIST 100, the main Borsa Istanbul index, has gained more than 35 percent since the start of the year.