Sumer Asset Management IPO Dates Announced

Sumer Asset Management is preparing to meet investors with its initial public offering (IPO) scheduled for December 12-13. According to an announcement published on the Public Disclosure Platform (KAP), the IPO will involve a total sale of 28 million lots through capital increase and share sale. 18 million lots will be offered as part of the capital increase, while 10 million lots will be provided by ASV Holding A.Ş.

50% of the funds raised from the IPO will be used for new portfolio acquisitions, while the other 50% will be allocated for the repayment of financial debts. The IPO will be conducted through a fixed price method on the stock exchange, following the principle of equal distribution without allocation groups. Although the stock does not appear to be eligible for the participation index, T1 and T2 balances can be used during the demand phase.

Price stability will be maintained for 30 days during the offering, and the issuer and shareholders will pledge not to sell their shares for one year. Sumer Asset Management is expected to have a public float rate of 23.73%, while the IPO discount rate will be 28.4%. The total size of the IPO is anticipated to be approximately 616 million TL.

Cagdas Cam’s IPO starts tomorrow The other company that has received IPO approval from the Capital Markets Board (CMB), Cagdas Cam, will commence its IPO process tomorrow. The offering will involve the sale of a total of 42 million lots at a price of 20 TL, ending on December 12.

This IPO will also be executed with equal distribution and T1 and T2 balances can be utilized. Furthermore, the stock is seen as suitable for the participation index. Following the IPO, the company's public float rate is expected to be 25%, and if all shares are sold, the size of the IPO will be approximately 840 million TL.