ARF Bio will invest the IPO proceeds in microalgae investments.

Intense Interest in ARF Bio's Public Offering

Melih Arslan, Vice Chairman of the Board of Directors of ARF Bio, shared details about the public offering in a statement to Bloomberg HT. Arslan said, "The demand came in at five times what we expected. This reflects 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."

57% of Investors are Individual

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

Investing in Microalgae for the Future

Arslan indicated that the income generated from the public offering will be directed towards microalgae investments, noting that this project is of great importance for environmental sustainability.