RENEWAL - Modern Glass/Brass: We Will Continue to Add Value to Our Country and Stakeholders with Our Investments and Production Capacity

Foreks - Çağdaş Cam has successfully completed its public offering process on December 11-12. The public offering received a demand of 2.2 billion TL with more than 637,000 applications.

As a company that possesses Turkey's first design center in the glass sector and ranks among the largest glass processing companies in Europe, Çağdaş Cam's public offering, led by Deniz Investment, has been successfully concluded. The total size of the public offering, which took place at a fixed price of 20 TL per share on December 11-12, 2024, amounted to 840 million TL, and the company's public float rate was 25%.

According to data shared by Borsa Istanbul; based on the total unfiltered data for the public offering, the demand amounted to 2.2 billion TL for 112 million nominal value shares, which corresponds to 2.7 times the number of shares offered for sale, totaling 637,038 orders. As a result of the distribution, shares with a nominal value of 42 million TL were sold to more than 628,000 investors.

Expressing pride in successfully completing the public offering, Çağdaş Cam Board Member Serdar Pirinç stated, “We aim to make Çağdaş Cam one of the leading glass processors in global glass supply chains. We believe that our public offering is an important milestone that will give us momentum toward that goal. We thank all of our investors who believe in and share in the future of Çağdaş Cam. In the upcoming period, we aim to continue to add value to both our country and our stakeholders with our investments, production capacity, and innovative perspective.”

The shares of Çağdaş Cam are scheduled to begin trading on Borsa Istanbul’s Main Market with the first gong on December 17, 2024.