Marble Systems Tureks Turunç Mining to Go Public on November 2-3!
The public offering application of Marble Systems Tureks Turunç Mining company was approved by the Capital Markets Board.
Tureks Turunç Mining, the first company to go public in its marble sector, received approval for the IPO prospectus submitted to the Capital Markets Board.
The Public Offering Price was Set at 10,97 TL
The company, which will be offered to the public through an IPO on the stock exchange on November 2-3 under the code MARBL , has set its share price at 10,97 TL . With this price, the IPO size will be 649,9 million TL , representing 25,8% of the total . The company's shares are eligible for inclusion in the participation index. The IPO, which will be conducted through Tacirler Yatırım Menkul Değerler, will ensure equal distribution to all investors as it will be offered on the stock exchange.
Strong Financial Performance
Tureks Turunç Mining offers unique and personalized solutions for architectural, interior design, and landscaping projects at its modern production facilities, which include 30 square meters of indoor space and a 15-square-meter site. Today, the company ranks among the top five marble exporters in Türkiye and has reached an annual production volume of 5 tons.
Osman Turunç, Vice Chairman of the Board of Directors of Tureks Turunç Mining, stated that they export to more than 50 countries under the Marble Systems brand and also included financial figures in his statement: “In 2022, we achieved a consolidated turnover of approximately 72,5 million USD. We experienced a 14% increase in sales in dollar terms in 2022. Our turnover for the first 6 months of 2023 is approximately 675 million TL (35,5 million USD). We experienced a 34% sales growth in the first half of 2023 compared to the same period of 2022. Our EBITDA for the first half was 122,3 million TL. Tureks Turunç Mining's net profit change in the first 6 months of 2023 compared to the same period of 2022 was a positive 60,11%.”
A Story Opening to the World from Türkiye: Marble Systems
Tureks Turunç Mining, which launched its Marble Systems brand with the goal of promoting Turkish marble globally, will accelerate both its operational and R&D investments with the IPO. Having completed the infrastructure necessary to expand its distribution network success in the US to Europe, the company aims to expand beyond Europe to Australia, South Africa, and the Middle East. The company has R&D plans that include automation for efficiency and packaging savings in its production facilities, as well as investments in solar energy and automation machinery systems.
IDENTITY OF THE PUBLIC OFFERING
- Pre-IPO capital: 180.000.000 TL
- Capital increase: 48.600.000 TL
- Post-IPO capital: 228.600.000 TL
- Number of Shares Offered for Public Offering: 976.404
- Company Capital Increase: 48.600.000 units
- Partner Sales: 376.404 units
- Unit share price: 10,97 TL
- Public Offering Size: 646.971.152 TL
- Free float rate: 25,8%