Bakırcı GYO to launch TL 2.16 billion IPO in Türkiye

Bakırcı Real Estate Investment Trust (Bakırcı GYO) has received approval from Türkiye’s Capital Markets Board (SPK) to launch an initial public offering (IPO). The offering, led by İntegral Yatırım Menkul Değerler with the participation of 45 brokerage firms, is scheduled for demand collection between August 24 and August 26.

The IPO aims to raise approximately TL 2.16 billion by selling 167 million shares at a fixed price of TL 12.93 per share. This process will increase the company’s issued capital from TL 501 million to TL 668 million, with an expected public float of 25%. The allocation is set at 70% for domestic individual investors, 10% for high-demand domestic investors, and 20% for domestic institutional investors.

Fatih Sağlam, Vice Chairman and General Manager of Bakırcı GYO, stated that at least 90% of the proceeds will be used for project financing. The company’s portfolio, valued at TL 9.2 billion, includes residential, commercial, tourism, and logistics assets in Istanbul, such as Bakırcı Kemer, GOP Student Dormitory, and Serenity Suites Airport Hotel. Shares are expected to trade on Borsa İstanbul’s Yıldız Pazar.