Financial

Limak Doğu Anadolu Çimento's IPO Details Announced

Limak Doğu Anadolu Çimento has received approval from the Capital Markets Board (SPK) for its initial public offering (IPO).

Photo by Engin Yapici / Unsplash

Limak Doğu Anadolu Çimento, based in Turkey, has announced the details of its upcoming initial public offering (IPO), set to take place within February. The company received approval from the Capital Markets Board (SPK) on February 8th, aiming to complete the transaction within the month.

The IPO price per share has been set at 16.20 TRY, with approximately 30% of the company's capital expected to be traded on the stock market post-IPO. The offering will distribute 155,933,000 shares to individual investors, resulting in a public float of 31%.

Shares will be traded under the ticker LMKDC on the Borsa Istanbul Star Market, with Halk Yatırım leading the consortium for the IPO. The company plans to use all proceeds from the IPO to fuel its growth, particularly aiming to increase sales in the Eastern and Southeastern Anatolia regions.

The Şanlıurfa factory, spanning 875,000 square meters, boasts an annual production capacity of approximately 2.2 million tons of cement and 1.5 million tons of clinker.

Source:
Ekonomist

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