Barem Ambalaj's Public Offering Size Reaches TRY 378 Million

Barem Ambalaj, which went public on the Exchange through the Sales method on 3-4 August 2022, received 2.4x demand for its shares. The public offering size for Barem Ambalaj's 20 percent stake reached TRY 378 million. In the offering where the IPO price was set at TRY 36, the public offering size totaled TRY 378 million, while the number of investors participating in the IPO was 277,158. The public float ratio following the offering was 20 percent. Speaking about the IPO, Barem Ambalaj General Manager Metin Kaya said the company received 2.4x demand from investors and continued as follows: "We extend our infinite gratitude to our investors for their interest and confidence. Just as we have done until now, we will continue to strengthen our successful position in the sector by drawing on the confidence our investors have placed in us." He noted that 45 percent of the net proceeds of TRY 255.75 million obtained from the successfully completed IPO will be used for debt principal and interest payments arising from stock financing as well as machinery, equipment and facilities investments within the scope of capacity expansion and modernization. Metin Kaya stated that the remaining 55 percent of the proceeds will be used to finance working capital requirements needed for the company's production activities, specifically for the purchase of paper and cardboard, which are key raw materials.           Barem Ambalaj The company's journey began in 1999 in a small workshop in Tire, İzmir. Today, with 100 percent domestic capital, it continues to serve all of Turkey through its facilities in İzmir, Karaman and Gaziantep. It also contributes to the national economy by exporting to 17 countries. Operating across approximately 120,000 m² of space with annual production capacity of 100,000 tonnes, the company provides employment to 800 people. It is present in every sector where offset printed carton and laminated box packaging is used. Food, electrical-electronic, and small household appliances are among the sectors it serves. The company, which exports 25 percent of its total turnover to many countries worldwide, aims to increase its export capacity with each passing day.