Armada Food Begins Trading on BIST: How Did ARMGD Perform on Its First Day?
Turkey's leading conventional and organic food producer, Armada Gıda, has started trading on Borsa Istanbul's Star Market after successfully completing its initial public offering process. The trading process, identified by the code "ARMGD," officially began today with a gong ceremony.
The gong ceremony was attended by Borsa Istanbul A.Ş. General Manager Korkmaz Ergun and Armada Gıda Board Chairman Fethi Kalıpçı Sönmez, along with many senior officials. During the ceremony, the company’s over 30-year history and export success were highlighted, and it was noted that the funds raised from the public offering would strengthen the company’s equity structure and finance new investments.
Armada Gıda's Growth Targets Fethi Kalıpçı Sönmez, Chairman of the Board of Armada Gıda, shared the company's growth targets in detail. Sönmez stated that the company exports to more than 90 countries, including Germany, Italy, Egypt, Tunisia, and France, and that 70% of their annual revenue comes from global markets. He announced that approximately $60 million has been allocated for new investments, with the goal of doubling production capacities through the establishment of a third factory.
Additionally, an investment aimed at doubling the capacity of the bulgur processing line at the company’s central factory in Mersin is planned to be completed by 2026. Armada Gıda aims to become a domestic and national regional player by establishing a legume processing facility in Kazakhstan.
About Armada Gıda Founded in 1993, Armada Gıda operates with a total processing capacity of 725,000 tons per year and a storage capacity of 118,665 MT across its three factories in Mersin. The company engages in processing, sales, import, and export activities in nine main product groups. In 2023, Armada Gıda accounted for 7.2% of Turkey's selected legume product exports and 7.4% of total grain product exports, and it plans to continue to grow through investments and global expansion in the future.
How Did ARMGD Perform in Initial Trades? ARMGD began trading today and initially traded at the public offering price, reaching as high as 42.86 TL with a 7.1% increase. However, after encountering selling pressure at these levels, the stock dropped to a low of 40.5 TL, finally stabilizing with nearly a 2% increase towards the close, hovering around 40.8 TL.