Solar panel manufacturer CW Enerji has announced that it is preparing to be traded on the Borsa Istanbul (BIST).
According to the company’s statement, CW Enerji’s public offering application was approved by the Capital Markets Board.
In the public offering, which will be held under the leadership of Deniz Yatirim and QNB Finansinvest, demand will be collected at a price of ₺108.60 on April 26-27-28.
The issued capital of the company will be increased from ₺105 million to ₺123 million 750 thousand in the public offering, which will be realized with the method of capital increase and joint sale. The nominal share of ₺18 million 750 thousand to be increased will be offered to the public. In the public offering, a joint sale of ₺6 million 250 thousand will be realized.
After the public offering, 20.20% of CW Enerji’s capital will be traded on the BIST. In case of using the additional sale right of ₺5 million in the public offering, the free float rate will be 24.24%.
The income from the capital increase will be used for investment and modernization expenditures, especially for the strengthening of the working capital, the purchase of licensed or unlicensed Solar Energy System (SPP) power plants, roof and land SPP power plants for the company’s own consumption, warehouse investments and reduction of financing costs.
Most of the income from the joint sale can be used in price stability transactions for 30 days if needed.
CW Enerji offers turnkey SPP installation, design, engineering and technical maintenance services, especially photovoltaic solar panel production and sales. The company works on new generation systems and technologies such as the production, supply and sale of solar energy systems equipment, solar power generation, electric vehicle charging stations and energy storage.
As of the end of 2022, CW Enerji’s total turnover has reached ₺4.8 billion with an increase of 374% compared to the same period of the previous year, and its net profit is ₺904 million. It also has 78 electric charging stations approved by EMRA.
Source: AA / Prepared by Irem Yildiz