Limak Doğu Anadolu Çimento's IPO Expected to Raise 2.5 Billion Lira

Limak Doğu Anadolu Çimento, part of the Limak Companies Group, is gearing up for its initial public offering (IPO) scheduled for February 14-16. The offering, which is anticipated to be one of the largest this year, is expected to raise around 2.5 billion Lira. The shares will be priced at 16.20 Lira each, with the IPO structured to allocate 70% to individual investors and 30% to institutional investors.

Located in Şanlıurfa, the largest city in the Southeastern Anatolia Region of Turkey, Limak Doğu Anadolu Çimento operates a factory with an annual production capacity of approximately 2.2 million tons of cement and 1.5 million tons of clinker over an open area of 875,000 square meters. The company enters the IPO with a zero-debt ratio, highlighting its strong financial health.

Erkam Kocakerim, CEO of Limak Cement Group, emphasized that the proceeds from the IPO would be entirely used to support the company's growth strategy, specifically for acquiring the Ergani factory. This move is part of Limak's broader strategy to expand its footprint in the cement industry and contribute to Turkey's construction sector.

The IPO of Limak Doğu Anadolu Çimento marks the first public offering by the Limak Group, with plans for future IPOs, including the group's renewable energy company, indicating Limak's commitment to diversifying its investment portfolio and enhancing its presence in various sectors.

Source: Akşam