Turkey's SPK approves Ekinciler Demir IPO and a slate of capital increases

The Capital Markets Board of Turkey (SPK) has approved the first public offering of Ekinciler Demir ve Çelik Sanayi, pricing each share at 45 TL. The company's capital will rise from 280 million TL to 320 million TL, with the offering expected to generate about 2.34 billion TL in total.

The board also cleared a 600 million TL capital increase for BİM Birleşik Mağazalar and a 555.795 million TL increase for Frigo‑Pak Gıda, as well as free‑capital boosts for several other firms. Debt‑instrument issuance applications were accepted for ten companies, including Otokar Otomotiv ve Savunma, Yapı Kredi Bankası, Nurol Yatırım Bankası and others, covering amounts from 750 million TL up to 30 billion TL and foreign‑currency issues totaling roughly $34.5 million.

Additionally, SPK granted licences for two investment funds – the Garanti Portföy BIST 30 ETF and the Astra Portföy STAG venture capital fund – and approved the capital increase of Marmara Capital Portföy Yönetimi from 45 million TL to 75 million TL. The regulator also imposed administrative fines totaling 27.48 million TL on two individuals and two entities, filed criminal complaints against 24 persons, and barred 23 individuals from market activities for two years.