ARF Bio will invest its IPO revenue into microalgae investments.

Intense Interest in ARF Bio's IPO

Melih Arslan, Deputy Chairman of the Board of ARF Bio, shared the details of the IPO in an interview with Bloomberg HT. Arslan stated, "The demand was 5 times what we expected. This shows investors' confidence in renewable energy and the green transformation. We have taken a historic step today on the path we aimed for 10 years ago," he said.

57% of Investors Were Individual

Arslan emphasized that they have taken a significant step for the Turkish economy, green economy, and a sustainable future, saying, "A total IPO worth 916 million TL was conducted. Approximately 520,000 individual and 147 institutional investors showed interest," he stated.

Investing in Microalgae for the Future

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