Çuhadaroğlu joined Borsa İstanbul with TL 142.5 million market capitalisation. An opening-bell ceremony was organized at Borsa İstanbul following the IPO on February 10-12.
Çuhadaroğlu went public with an IPO volume of TL 37 million, with the slogan “become a shareholder of this trust” with a consortium led by Deniz Yatırım. After the successful IPO, 26 percent of the company shares were made public with TL 142.5 million market capitalisation. Çuhadaroğlu shares started to be traded on Borsa İstanbul on February 18, 2016 with the ticker code “CUSAN”.
- We feel proud to have carried forward the flag we have taken over from my father
Çuharadoğlu Metal Sanayi Deputy Chairman Nejat Çuhadaroğlu said; “My father Ahmet Çuhadaroğlu, a master architect, took the first steps in this sector with the production of steel construction materials 62 years ago. We have been operating primarily in the construction sector, with the production and implementation of aluminum doors, windows and joinery for architectural applications since 1965. Today, we feel proud to have carried forward the flag we have taken over from him with more than 630 employees, an innovative company culture, robust technological infrastructure and global vision utilizing modern techniques. Our main goal is to further improve visibility and market share building on our national and international reputation, sustain our quality, trust and technology advantage and diversify our fields of operation.”
- Deep-rooted and trustworthy Çuhadaroğlu is at Borsa İstanbul
Deniz Yatırım General Manager Cafer Bakırhan said; “We are pleased to have successfully concluded IPO of Çuhadaroğlu, the most well established and deep-rooted company of the sector. Çuhadaroğlu, with its integrated structure, growth performance in turnover and profits, increasing capacity with investments to be completed in 2016, and capital structure without liability, provides a significant alternative for investors.”
Borsa İstanbul Chief Business Development Officer Mustafa Kemal Yılmaz said; “Çuhadaroğlu Metal Sanayi ve Pazarlama A.Ş. is an important company that has been providing input to the Turkish economy for more than 60 years. This IPO is therefore quite significant for us. We also congratulate them for being the first IPO of 2016. We do hope that this IPO proves beneficial for the Turkish capital markets and broader economy of our country.”
- IPO is an element of institutionalization
Çuhadaroğlu Metal Sanayi Chairman Murat Çuhadaroğlu said; “We have operated as a family company for many years but institutionalization and professionalism have always been at the back of our minds. We considered the IPO from this angle and thought it would be a critical move to propel our country to the future. Our IPO will be the driving force to guide company operations with corporate governance principles and to facilitate institutionalization. It will give us the ability to continue our operations over stronger foundations.”
- From 3 to 2,148 shareholders
Murat Çuhadaroğlu thanked managers and specialists of the Capital Markets Board and Borsa İstanbul for their attentive support. He thanked the consortium leader Deniz Yatırım and other members of the consortium, investors, media representatives and solution partners. He concluded his remarks by saying; “Hello Borsa İstanbul, we are here and we are glad to be here!”
Borsa İstanbul Chief Business Development Officer Mustafa Kemal Yılmaz
Çuhadaroğlu Metal Sanayi Chairman Murat Çuhadaroğlu
Çuharadoğlu Metal Sanayi Deputy Chairman Nejat Çuhadaroğlu
Deniz Yatırım General Manager Cafer Bakırhan
