Altınay Defense Technologies has officially completed its initial public offering (IPO) with a gong ceremony held at Borsa Istanbul, following a highly successful book-building process conducted on May 8–10. The offering attracted great interest, with 3.6 million individual investors participating.
3.6 Million New Shareholders and a TL 1.9 Billion Offering
The IPO included 35.3 million shares issued through a capital increase and 23.5 million shares through shareholder sales, totaling 58.8 million shares offered to investors. Following the offering, the company’s free float rate reached 25%, and the total size of the IPO amounted to approximately 1.9 billion Turkish lira.
The public offering was led by TSKB (Industrial Development Bank of Türkiye), with Ziraat Yatırım and Yatırım Finansman acting as co-lead managers.
We Will Continue Growing with Our New Shareholders
Speaking at the ceremony, Hakan Altınay, Chairman of the Board of Altınay Defense Technologies, emphasized that the IPO was not just a financial milestone, but also an opportunity to invite investors to join the company’s national defense vision:
“We now have 3.6 million new shareholders. Together with our investors, we will continue to grow, innovate, and contribute to Türkiye’s achievements in the defense industry.”
Altınay added that the majority of the funds raised will be allocated to new investments and project financing, noting that the IPO marks a key step forward in the company’s journey toward greater institutionalization.
A Clear Sign of Trust in the Company
Korkmaz Ergun, CEO of Borsa Istanbul, also spoke at the ceremony, stating that Altınay’s advanced technology projects make significant contributions to the localization of Türkiye’s defense capabilities. He noted:
“Growth and success require not only strong engineering but also qualified financial resources. Altınay has successfully secured this through its public offering.”
Kamil Kılıç, General Manager of Letven Capital and a Board Member at Altınay, commented on the overwhelming demand, highlighting that the offering was oversubscribed by a factor of seven, which he described as a strong indicator of investor confidence in the company.