Pakun, Turkey’s well-established flour producer and exporter, applied to the Capital Markets Board (CMB) for prospectus approval within the scope of the public offering of company shares.
Allbatross Yatırım Menkul Değerler A.Ş. In the public offering to be held under the leadership of the Bank, a total of 40 million TL nominal value shares will be offered for sale by book building method, with 33 million TL nominal value shares in the form of capital increase and 7 million TL nominal value shares in the form of joint sale. It is planned that 50 percent of the shares to be offered to the public will be allocated to domestic individual investors, 37.5 percent to domestic institutional investors, and 12.5 percent to foreign institutional investors.
Entered the Export Champions and Fortune 500 lists
Pakun Chairman of the Board of Directors, Niyazi Durgun, stated that Pakun, which is among Turkey’s well-established industrial enterprises with both its high production power and export success, has entered a brand new era and said, “We have taken our first step towards becoming a public company, subject to the approval of the CMB. “We will be very happy to make our people partners in our company at this point we have reached with our 51 years of experience in the flour industry,” he said.
Emphasizing that Pakun currently has an annual wheat crushing capacity of approximately 331 thousand 245 tons in its Samsun – Bafra, Tekirdağ – Çorlu and İzmir – Bornova facilities, Durgun said, “67 percent of our production is exported to more than 50 countries, and 33 percent is domestically produced.” We offer to the market. According to the data of the Turkish Exporters Assembly (TİM), we took our place among Turkey’s top 1000 exporting companies this year by exporting 55.7 million dollars in 2023. “We also entered the Fortune 500 Turkey 2003 list, which lists Turkey’s 500 largest companies, and became one of the 500 largest industrial enterprises of our country,” he said.
Will invest with public offering proceeds
Expressing his belief that Pakun, which will have a stronger and more corporate structure with the public offering, will further strengthen its position in the sector, Durgun continued as follows:
“In this new period, our most important goal will be to ensure the highest level of satisfaction of all our stakeholders as well as our investors who trust us. We will finance our product diversification, clean energy and capacity increase investments with the proceeds from the public offering. “This step, which will allow us to create a stronger working capital, will also minimize our costs incurred while fulfilling our financial obligations.”
Source: www.dunya.com
