ARF Bio will make investments in microalgae with the proceeds of its public offering.

Intense Interest in ARF Bio's Initial Public Offering

Melih Arslan, the Vice Chairman of the Board of ARF Bio, shared details about the IPO in a statement to Bloomberg HT. Arslan stated, "The demand was 5 times what we expected. This shows investors' confidence in renewable energy and the green transition. Today, we have taken a historic step on the path we aimed for 10 years ago," he said.

57 Percent of Investors Were Individual

Arslan emphasized that they have taken a significant step for the Turkish economy, green economy, and a sustainable future, stating, "A total of 916 million TL worth of an initial public offering was carried out. Approximately 520,000 individual and 147 institutional investors showed interest," he said.

Investing in Microalgae for the Future

Arslan indicated that they would direct the revenue obtained from the IPO towards microalgae investments, noting that this project is of great importance for environmental sustainability.