After Hat-San, another shipping company is listed on the stock market.
Özata Shipping, one of Turkey’s leading maritime companies, received the necessary approval from the CMB for the public offering process, which it has been working on for a long time.
The company will offer a total of 17,850,000 shares to investors in this process, which will be carried out by Vakıf Yatırım. 11,350,000 of these shares will be offered through capital increase and 6,500,000 will be offered through joint sale. The shares subject to joint sale will belong to Özata Tersanecilik Sanayi ve Ticaret.
Usage distribution of the fund
According to the draft prospectus of the company, 65 percent of the proceeds from the public offering will be used to pay off bank loans, 15 percent will be used for solar power plant (SPP) project investment, and 20 percent will be used as working capital.
After the public offering, price stability will be maintained for 30 days and the aim is to keep share prices balanced during this period. In addition, the company and the partners committed not to sell their shares for one year. The free float rate was determined as 25.02 percent.