Turkey’s Capital Markets Board (SPK) said in its weekly bulletin that it has approved the initial public offering (IPO) applications of Quick Sigorta A.Ş. and Bewen Enerji A.Ş.
Quick Sigorta plans to raise its share capital from TRY 433.3 million to TRY 481.61295 million through a paid-in capital increase of TRY 48.31295 million. No existing shareholder sales are included in the IPO, with the company’s shares offered at a fixed price of TRY 76.60. If all shares are sold, the IPO is expected to generate about TRY 3.70 billion.
Bewen Enerji, meanwhile, plans a paid-in capital increase from TRY 261 million to TRY 317 million after adding TRY 56 million. The IPO will also include a sale of C-class shares held by existing shareholders totaling TRY 24 million in nominal value, priced at TRY 48.10 per share. Combined, the capital increase and shareholder sale will put C-class shares with an aggregate nominal value of TRY 80 million up for offering, with an expected total IPO size of TRY 3.848 billion if fully sold.
If all shares in both IPOs are subscribed and sold, the combined offering size is estimated at about TRY 7.55 billion.