# Çitlekçi Mağazacılık Gıda AŞ IPO and expansion

> Live situation record from CLSTR: https://clstr.news/situations/itleki-maazaclk-gda-a-ipo-and-expansion
> Updated: 2026-08-18T10:34:40.000Z. Sources: 6. Developments: 2.

Çitlekçi Mağazacılık Gıda AŞ completed an initial public offering (IPO) on Borsa İstanbul, raising approximately 2.69 billion TL. The offering saw significant interest, with demand reaching 7.83 times the total size and involving 556,728 investors.

Following the offering, the company announced plans to utilize the proceeds for various investments. Finance Director Kazım Altındağ stated that the funds would be allocated toward working capital (30-40%), new store investments (30-40%), solar power plant investments (10-20%), and new warehouse investments (10-20%).

As part of its growth strategy, Çitlekçi aims to expand from its current 40 stores to cover all 81 provinces in Turkey, targeting a total of 99 stores by the end of 2030, with future intentions for international expansion.

## Timeline

### 2026-08-18: Çitlekçi Mağazacılık announces plans for 59 new stores following public offering

Çitlekçi Mağazacılık raised 2.7 billion lira through its Borsa İstanbul public offering, planning to fund new stores, solar energy, and warehouses to reach 99 locations by 2030.

3 sources. https://clstr.news/cluster/itleki-maazaclk-announces-plans-for-59-new-stores-following-public-offering

### 2026-08-13: Çitlekçi Mağazacılık Gıda AŞ completes 2.69 billion TL IPO

Çitlekçi Mağazacılık Gıda AŞ completed its 2.69 billion TL IPO with demand exceeding 7.8 times the offering size. Shares will begin trading on August 18.

3 sources. https://clstr.news/cluster/itleki-maazaclk-gda-a-completes-269-billion-tl-ipo

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Cite as: Çitlekçi Mağazacılık Gıda AŞ IPO and expansion. CLSTR, https://clstr.news/situations/itleki-maazaclk-gda-a-ipo-and-expansion