Peker GYO started being traded on Borsa İstanbul with the ticker code PEKGY following its initial public offering (IPO). An opening-bell ceremony was held for Peker GYO at Borsa İstanbul today. At the IPO, 45%, 35% and 20% of the company shares were sold to, respectively, domestic institutional investors, domestic individual investors, and international portfolio investors. As a result, 32% of the company was sold to the public.
The initial public offering of Peker Gayrimenkul Yatırım Ortaklığı A.Ş., known for its portfolio comprising projects in Bomonti, Ataköy NEF 22, Sultan Makamı Konutları, land in Çamlıca and building in Heinsberg (Germany), has been completed. Peker GYO started being traded on Borsa İstanbul following the opening-bell ceremony held today.
Peker GYO’s publicly offered shares attracted 10.2, 8.57, and 2.6 fold demand from, respectively, domestic individual investors, domestic institutional investors, and international institutional investors. In general, the total demand was approximately 8 fold of the publicly offered shares. At the initial public offering, 45%, 35% and 20% of the company shares were sold to, respectively, domestic institutional investors, domestic individual investors, and international portfolio investors. As a result, 32% of the company was sold to the public.
The book-building process for the IPO took place on February 15-16. The IPO was realized by a consortium of 19 intermediary institutions led by Gedik Yatırım Menkul Değerler A.Ş..
“Start of a New Era”
Pointing out that the high demand from domestic and international investors in the IPO is an indication of the confidence in the Turkish economy real estate sector, Peker GYO Chairman Hasan Peker said:
“The IPO opens a new era for us. In the upcoming period, we will continue to grow in Turkey and in Europe, strengthened with the power of our shareholders. We receive project proposals from all over the world. We will evaluate those that will contribute to our global growth vision and we will continue to improve our portfolio. As we have done so far, we will continue to work to make the Turkish economy achieve the desired rank in the global economy”.
In his speech, Borsa İstanbul Executive Vice President Dr. Korkmaz Ergun indicated that the total amount of publicly offered shares in 6 initial public offerings in 2018 was TL 3 billion, and the market capitalization was TL 12 billion. Ergun said that a total of 56,500 investors, including 15,000 new investors, bought shares in the said IPOs, and went on to say that Borsa İstanbul endeavors to increase the number of companies traded, while attracting new investors to the market.
Buy-Back Guarantee
Peker GYO and its shareholders undertake to not sell any shares or enter into rights issues for a term of one year. Investors that keep Peker GYO shares in their accounts for 45 consecutive days will be entitled to sell the shares at TL 5.61 per share 45 days after the first trading day.
