The Bell Rings for Çagdaş Cam at Borsa Istanbul
Foreks - Modern Glass, a company that owns Turkey's first design center in the glass sector and has the largest glass processing capacity in Europe, has successfully completed its IPO process amid significant investor interest; today, it began trading on Borsa Istanbul's Main Market under the code CGCAM during a gong ceremony.
The gong ceremony for Modern Glass was attended by Korkmaz Ergun, General Manager of Borsa Istanbul A.Ş., Betül Pirinç Yıldız, Vice Chairman of the Board of Modern Glass, Board Members Raşit Pirinç and Serdar Raşit Pirinç, Melih Akosman, General Manager of Deniz Investment, İhsan Engindeniz, Deputy General Manager of Deniz Investment, along with the Modern Glass family and numerous invited guests.
In his speech, Borsa Istanbul A.Ş. General Manager Korkmaz Ergun stated, “Modern Glass is a valuable manufacturer that has a significant place in its sector with its domestic and international sales, providing input to many different industries. As Borsa Istanbul, we are very pleased that we can facilitate the financing of our industrialists' growth through this IPO. Modern Glass will make investments and implement its projects with the income obtained from the public offering, thus advancing its targets even further. I thank everyone who contributed to this successful IPO. I welcome Modern Glass to our Borsa family and wish them success in the capital markets.”
“Together with the support of our investors, we aim to make Modern Glass one of the leading glass processors.” During the gong ceremony, Board Member Serdar Raşit Pirinç remarked, “In our industrial journey that began with a dream nearly half a century ago, we have transformed Modern Glass into one of the companies with the largest glass processing capacity in Europe. We take pride in being the first company with a design center in the glass sector in Turkey. Thanks to our design center, we are developing many new products in home appliance glass, adding value to the industry. Our factory in the Manisa Organized Industrial Zone, which processes energy glass, has become a strategic investment that operates at world standards and serves the main players in the sector. With this investment, we plan to contribute to reducing the current account deficit by decreasing imports and continue to provide foreign currency inflow to the national economy through exports. As Modern Glass, we aim to successfully represent our sector on the international stage and become one of the leading glass processors among global glass supply chains. We believe our IPO is an important milestone that will accelerate our journey towards this goal. With the support of our new partners, we are confident that we will reach our objectives more quickly. Along this path, we will continue to contribute to our country’s economy and employment, and create added value for our partners and stakeholders. We thank hundreds of thousands of new partners who evaluate Modern Glass based on value rather than price.”
“Capital markets will support Modern Glass's global expansion goals.” Deniz Investment General Manager Melih Akosman stated, “With nearly half a century of deep-rooted history, Modern Glass connects the glass it processes at its facilities in Manisa, Aydın, and Nazilli with national and international customers on four continents, targeting to be a global player in the glass supply chain. Modern Glass, which has one of the largest glass processing capacities in Europe, processes energy glass at its facility in Manisa, commercial refrigeration glass in Aydın, and maintains its grasp on the sector through its glass trading operations in Nazilli. As the owner of Turkey’s first design center in the glass sector, Modern Glass is a pioneer in the industry, making technological investments focused on “efficiency” and “added value,” which are critical topics for today’s companies. We are very pleased to have facilitated the entry of such a highly competent company into the stock market. This is our 27th IPO. We firmly believe that the capital markets will contribute to accelerating investments with the resources provided, while also helping Modern Glass become a global player. I thank the shareholders and executives of Modern Glass for their confidence in us, and for the interest they show to investors.”