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Altınay Defence to Join Stock Market

Altınay Defence to Join Stock Market

Altınay Defence Technologies is preparing to become the newest member of Borsa Istanbul after its approval from the Capital Markets Board (SPK). In public offering, shares with a nominal value of 35 million 294 thousand 118 TL will be offered for sale within the scope of capital increase, and shares with a nominal value of 23 million 529 thousand 412 TL will be offered for sale within the scope of partner sales. The existing capital before the public offering, which was 200 million TL, will be 235 million 294 thousand 118 TL after the public offering. Sixty-nine per cent of the shares to be offered for sale in the public offering of approximately 1.9 billion TL was allocated to domestic individual investors, 30 per cent to domestic corporate investors and one per cent to Altınay Group employees. After the public offering, the company’s free float rate was determined as 25 per cent. Kamil Kılıç, General Manager of Letven Capital, which became a partner with a 20 per cent share with its investment in Altınay Defence Technologies in 2022 and ranks seventh in fund size among the portfolio management companies that manage GDP with the permission of the CMB, said, “Altınay Defence Technologies’ We have full confidence in the business model developed by, its technical competence in its field and its post-public offering investment strategy. With the public offering of Altınay Defence Technologies, we are leaving only 5 per cent of our 20 per cent share. “We do not doubt that Altınay Defence Technologies will increase its contribution to national defence technologies and grow with investments through the public offering process.” Stating that they aim to take national defence technologies further with investments, Hakan Altınay said, “We will increase our national contribution by further expanding our technology capability with our production and R&D investments. We plan to invest in an ‘Aerospace Centre of Excellence’ facility on an area of 16 thousand 255 square meters in Ankara Aerospace and Aviation Specialized Organized Industrial Zone (HAB). “Part of the public offering revenues will be transferred to the production and testing infrastructure investments of these facilities.” Continuing its activities to implement the technologies that Turkiye needs, Altınay Defence Technologies aims to strengthen its export items with the domestic and national projects it develops. Stating that they aim to increase Turkiye’s potential among the countries that shape technology, Altınay said, “The Middle East, Far East Asia (Indonesia, Malaysia, Philippines), South America and Africa are potential markets for our country. Intending to guide technology, we are planning investments in companies that develop critical technologies abroad. “Our foreign investments will contribute to the development of our country in the field of defence technologies, and we will increase our export potential.” The Turkish Defence Industry is developing rapidly. New companies are joining the Turkish stock market to share their investment burden. ASELSAN, Otokar, Karel, Katmerciler, and SDT companies are in the Stock Market. According to the documents presented to the Capital Markets Board, Altınay will invest in the Ankara Aerospace Industry Zone (HAB), Engineering Centre of Excellence in İstanbul, and Production and Integration Centre of Excellence in Kocaeli. It will invest in addictive production technologies, Composite production, actuator valve technologies, and technologies for power transmission systems. Altınay will invest in Iron Bird for heavy-class UAVs.

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