Steps have been taken to add a new Turkish defense industry company to the stock exchange.
According to the information received, Altinay Defense Technologies Board of Directors decided to increase capital for purposes such as new investments, strengthening working capital and opening up to global markets.
According to the application made to the Capital Markets Board, 58 million 823 thousand 530 shares resulting from the capital increase and share sales of partners will be offered to the public.
Altinay Defense Technologies offers main and subsystem level solutions for land, sea and air platforms to domestic and foreign users with its 162 employees, the majority of whom are engineers, and its subsidiaries DASAL Aviation Technologies and TAAC Aviation Technologies.
The company operates in 5 main areas: movement and test systems, unmanned systems, naval systems, weapon systems and ammunition disposal. The company has ongoing subcontractor agreements with leading companies in the Turkish defense industry such as ASELSAN, Turkish Aerospace Industries and Roketsan.
Altinay Defense Technologies undertakes various responsibilities in projects such as unmanned aerial and ground vehicles, ALTAY tank, FIRTINA howitzer, national combat aircraft KAAN, HURJET, GOKBEY helicopter, ATAK-2 helicopter, ANKA-S, AKSUNGUR, HISAR air defense systems, NAZAR Laser Attack System, F16 Miniature Bomb Launcher.
Half of the resource will be allocated to investment
After deducting the public offering costs, 50% of the resources to be provided in return for the shares to be issued will be used for new facility and production technology investments.
15% of the resource will be allocated to testing and verification technologies, R&D and P&D investments, and 15% will be allocated to strengthening working capital.
10% will be used for company acquisitions and/or establishment of business partnerships, 5% for global sales and marketing network investments, and 5% for financial debt payments.
Source: AA / Prepared by Irem Yildiz