Kardemir Çelik launches 4.48 billion TL IPO at 35 TL per share in Turkey

Kardemir Çelik, one of Turkey’s largest steel producers, received approval from the Capital Markets Board (SPK) to go public. The company will offer 128 million TL of nominal share capital at a fixed price of 35 TL per share, targeting a total issuance size of about 4.48 billion TL. The offering consists of a 110 million TL capital increase and an 18 million TL secondary sale, with a planned free‑float of 15.42% after the IPO.

Demand for the shares will be collected from 22–24 July 2026 through a consortium of 48 intermediaries led by A1 Capital, Vakıf Yatırım and Ziraat Yatırım. Kardemir Çelik operates seven production sites in İzmir and Denizli, employs over 1,350 people, and has an annual steel capacity of 2.5 million tonnes. Proceeds are earmarked for expanding production capacity, strengthening working capital, and accelerating renewable‑energy projects, including wind and solar facilities and waste‑heat recovery systems.