Speaking about the public offering, Hakan Ünsal, General Manager of Astor Energy, said, “With the public offering, we aim to further strengthen the corporate structure of Astor Energy, to increase its current share in the international market and to evaluate investment opportunities that will add value to our brand. We want to continue our growth as a corporate, public brand with all our transparency.”
Astor Energy, which manufactures power and distribution transformers and medium and high voltage switchgear products for its customers in Turkey and all over the world, is starting to gather demand for the public offering. With a fixed price of 12.50 TL per share through a consortium of 40 intermediary institutions under the leadership of TEB Investment, bookbuilding will begin tomorrow and end on Friday, January 13.
The size of the public offering of shares with a nominal value of 175 million TL, excluding additional sales, including capital increase of shares with a nominal value of 148 million TL and joint sales of shares with a nominal value of 27 million TL, will be approximately 2.19 billion TL. In the event that the additional sale is realized, the public offering of shares with a nominal value of 210 million TL, including the joint sale of shares with a nominal value of 35 million TL and additional sales, will reach approximately 2.63 billion TL.
Pointing out that the demand for energy on a global scale is increasing day by day, Astor Energy General Manager Hakan Ünsal stated that wherever there is electrical energy, Astor Energy’s products are needed. Ünsal said, “Today, our factory, which is one of the largest transformer production facilities in Europe equipped with the latest technology, our R&D Center that has been operating since 2016, our test laboratory, which is one of the laboratories with the largest capacity in Europe, has an installed capacity of 6.6 MW. Today, we deliver our products to over 90 countries in the world, in addition to Turkey, with our rooftop Solar Power Plant and over 1,500 employees. With the public offering, we aim to further strengthen Astor Energy’s corporate structure, increase its current share in the international market, and evaluate investment opportunities that will add value to our brand. We want to continue our growth as a corporate, public brand with all our transparency.”
IPO proceeds will be invested
Expressing that they will use the proceeds from the public offering for investments that will support the growth of the company in the country and abroad, Ünsal said, “While we maintain our leadership as a domestic manufacturer in Turkey, we will develop our capacity, product range and strengthen our working capital in order to develop and expand our existing presence in foreign markets. We will increase our R&D activities with unique products demanded by the industry, especially to develop our technological products that meet the needs of the renewable energy sector. In addition, increasing the efficiency of our production facilities, purchasing new machinery, equipment and systems, and opening new lines are among our priorities. In addition to these investments, on-land solar power plant (SPP) investment, which supports our main activities, investments in electric vehicle charging stations and infrastructure investments required for capacity increases of the installed power of these stations are also included in our future investment plans.”
TEB Investment General Manager Selim Yazıcı said, “In these days when we proudly leave behind the 25th anniversary of TEB Investment, one of the most distinguished institutions of the Turkish Capital Markets, we are proud to lead the public offering of Astor Energy, one of the most important industrial establishments of our country. Our institution, which has achieved important firsts since its establishment, has started a breakthrough in both digital intermediation and investment banking in the last few years. We are all very excited that we are returning to our leadership role in public offerings with the public offering of Astor Energy, which we believe will be one of the most popular companies in Borsa Istanbul. Operating in a highly strategic sector, Astor Energy, as the largest domestic producer, stands out with its successful export performance. We believe that the public offering of Astor Energy will be an important milestone in opening industrial companies that our Stock Exchange needs and that contribute significantly to production, employment and exports to individual and institutional investors. We hope this public offering will be beneficial for our capital markets and investors.”
Aims to distribute cash dividends
While Astor Energy achieved a turnover of 1.1 billion TL in 2019, as of September 30, it reached approximately 5.7 billion TL turnover, 1.6 billion TL EBITDA and 1.4 billion TL net profit in the last 1 year. It aims to distribute at least 30% of its distributable profit as cash dividend.
Growth will be focused on export markets
Exporting to more than 90 countries in 6 continents, especially in Europe, the Middle East and Africa, Astor Energy aims to deepen its existing markets in the coming period and to increase the share of its exports in all sales to 40 percent in the medium term by entering different markets.
It aims to increase the installed GES power to 20 MW
Astor Energy obtains almost all of the electrical energy it consumes from the Solar Power Plant (GES) with a capacity of 6.6 MW installed on the roof of the factory. With the completion of the EIA and zoning processes, the company will implement the 13.95 MW SPP project on its land in Ankara Bala with an investment of approximately 12.5 million dollars in the first half of 2023. In this way, it aims to support national and renewable energy by producing more than 20 million kWh of electricity annually, and to go a long way in its carbon neutral target.
Public Disclosure Platform (www.kap.org.tr), Astor Enerji’s www.astoras.com.tr and consortium leader brokerage house TEB Investment’s www.tebyatirim, announced the sales announcement to savers with the prospectus and its annexes approved by the Capital Markets Board. You can reach .com.tr from their website.