Şa-Ra Enerji IPO approved, pricing set at 70 lira per share

Turkey’s Capital Markets Board (SPK) gave approval for the public offering of Şa‑Ra Enerji İnşaat Ticaret ve Sanayi A.Ş., setting the issue price at 70 lira per share. The IPO will sell 89 million lots and the company plans to allocate 15 % of the proceeds to investment projects, 55 % to working capital and 30 % to repay financial debt. Şa‑Ra reported revenues of 6.6 billion lira in 2022, 7.7 billion lira in 2023 and 4.2 billion lira in the first half of 2024, with gross profit of 1.6 billion lira, 1.8 billion lira and 965.4 million lira respectively.

In the same decision, SPK also approved the IPOs of Saat ve Saat Sanayi ve Ticaret A.Ş. at 56 lira per share and authorized a paid‑in capital increase for SASA Polyester Sanayi A.Ş. totaling about 5.5 billion lira. The regulator cleared a range of other debt‑instrument issuances and capital‑raising requests from various Turkish firms.