RENEWAL: Capital Markets Board Approves Contemporary Glass's IPO Application

The Capital Markets Board (CMB) has approved the initial public offering (IPO) application of Çağdaş Cam Sanayi ve Ticaret AŞ. According to the decision in the CMB weekly bulletin, the Company will increase its existing capital of 137 million TL to 168 million TL with a paid capital increase, and a total of 42 million TL shares will be offered to the public, including 31 million TL shares from the capital increase and 11 million TL nominal value (B) group shares owned by existing partner Ömer Seyfetdin Pirinç. Shares with a nominal value of 1 TL will be sold at a fixed price of 20.00 TL.

In a written statement by Çağdaş Cam, it was stated that: "Çağdaş Cam, which is among the companies with the largest glass processing capacity in Europe, has had its IPO application approved by the Capital Markets Board (CMB). The IPO, led by Deniz Yatırım, has set a sale price of 20 TL per share. Due to the increase in Çağdaş Cam's paid-in capital from 137 million TL to 168 million TL, shares with a nominal value of 31 million TL will be offered through a capital increase, while shares with a nominal value of 11 million TL will be presented for sale by the partner. The IPO, with a total of 42 million TL nominal value shares offered for sale, aims for a size of 840 million TL. It is expected that the post-IPO public float rate will be 25%.