Limak East Anatolian Cement, a subsidiary of the Limak Companies Group, commenced trading on Borsa Istanbul under the code “LMKDC” after a bell-ringing ceremony held today. The Initial Public Offering (IPO) of Limak East Anatolian Cement garnered significant attention with a 4.4 times oversubscription from investors, resulting in a total demand of 2.526 billion Turkish Liras.
Reported by Fatma Eda Topcu, the ceremony, held at the Yıldız Market, marked the official start of trading for Limak East Anatolian Cement on the stock exchange. The consortium led by Halk Yatırım oversaw the IPO process, and Limak East Anatolian Cement shares are now traded on the Yıldız Market with the code “LMKDC.”
Borsa Istanbul AŞ General Manager Korkmaz Ergun, Limak Companies Group Honorary Chairman Nihat Özdemir, Chairman of the Board Ebru Özdemir, Vice Chairman Serhan Bacaksız, Board Members Batuhan Özdemir, Serdar Bacaksız, Limak Cement CEO Erkam Kocakerim, Limak East Anatolian Cement Board Members Kerem Güzel, Burak Erdoğan, Halk Yatırım executives, and numerous other guests attended the bell-ringing ceremony.
Limak East Anatolian Cement successfully reached 3.3 million domestic investors during the subscription period from February 14 to February 16, making the IPO a significant achievement.
Korkmaz Ergun, the General Manager of Borsa Istanbul AŞ, congratulated Limak Holding on its continued growth in the cement sector, emphasizing the company’s experience and modern integrated production facilities. He commended the company’s strategic decision to finance its investments and growth in the cement sector through capital markets. Ergun extended an invitation to all industrialists to utilize capital markets and the stock exchange for financing their investments, growth, exports, and production. He concluded by expressing gratitude to everyone involved in the successful IPO and welcomed Limak East Anatolian Cement to Borsa Istanbul, wishing the public offering to be prosperous for the capital markets.
Nihat Özdemir, Honorary Chairman of Limak Companies Group, spoke about the excitement of the day, noting that Limak, founded in 1976, is taking a significant step towards institutionalization to carry the company to future generations. He highlighted the successful IPO and the strong demand from nearly 3.5 million different investors during the subscription process, showcasing the trust in the company. Özdemir emphasized that the IPO is an essential step in strengthening Limak’s institutional structure.
Özdemir acknowledged the long-standing consideration of going public, expressing happiness for reaching this goal today. He also mentioned Limak’s plans for a public offering related to renewable energy in 2024, with the proceeds aimed at expanding their renewable energy investments.
In conclusion, Özdemir expressed his happiness for achieving the IPO goal and extended thanks to everyone who showed trust in the company. He emphasized the importance of having strong companies listed on the stock exchange, enhancing confidence in the country and the exchange. He expressed optimism about increasing their presence on the stock exchange over time.
source: aa.com.tr / prepared by Melisa Beğiç