CMB Approval for the Public Offering of Çates
Çatalağzı Thermal Power Plant ("ÇATES"), which is Türkiye's first thermal power plant and the first and only power plant to be powered by domestic hard coal, has been approved for public offering by the Capital Markets Board. İnfo Yatırım Menkul Değerler A.Ş. ("İnfo Yatırım") has been appointed as the lead institution for the public offering process and the demand collection will be realized at a price of TRY 57.15.
Our company's issued capital of TRY 140,405,000 will be increased by TRY 24,795,000 to TRY 165,200,000 and a total of 33,050,000 shares will be offered to the public, of which 8,255,000 shares will be offered through shareholder sales. While our free float rate is announced as 20.01%; equal distribution method will be applied in the public offering.
36 brokerage houses in Türkiye will participate in the consortium established under the leadership of İnfo Yatırım.
The proceeds from the public offering will be used to reduce financial indebtedness within the scope of increasing the equity and capital strength of ÇATES. Located in Zonguldak, where the richest coal reserves in Türkiye are located, ÇATES aims to provide regular dividend income.
Sustainable income will turn into dividends
Evaluating the public offering process, Hamdi ALP, General Manager of ÇATES, expressed his confidence in the potential of our company and said: "ÇATES is located in Zonguldak, where the hard coal reserves in our country are the richest. At the same time, with its location on the seashore, its advantage of access to imported coal and its potential for resource diversity, it is of critical importance for the continuity of our country's energy map. I believe that ÇATES, as a base load power plant, will provide significant advantages to its investors with its ability to generate electricity 24/7 without being affected by any natural conditions and its structure that provides regular income. We will share this sustainable income with our people through regular dividends. We are excited and happy to share this value we have created through the public offering with our new investors. With the strength and confidence we will receive from our investors after the IPO, we will continue to work with all our strength to carry forward what we have contributed to our country and our sector so far."
