Üçay Engineering IPO: Timing and Details!

Üçay Engineering IPO: Everything Here!

Üçay Engineering has taken the step towards an initial public offering (IPO) with the approval of the Capital Markets Board (CMB). In this article, you can find details about the exciting IPO for investors and information about the company's history.

What Does Üçay Engineering Do?

Founded in 2000 in Istanbul, Üçay Engineering operates with the goal of developing sustainable and environmentally friendly systems. The company, which has expanded in the fields of mechanical and electrical contracting, launched its 100% owned subsidiary ELARİS in 2019 in the field of energy technologies. It has reached an important position in the sector with solutions for Solar Energy Systems and electric vehicle charging stations. Currently, it has more than 35 branches in over 22 provinces and over a thousand employees.

Features of the IPO

• IPO Price: 18 TL
• IPO Size: 900 million TL
• Public Offering Rate: %22.73
• Total Share Distribution: 60 million shares
• Financial Strength: 2024 gross profit target is 775.1 million TL, 2023 gross profit is 814.6 million TL.

The income from the IPO will be used for the establishment of electric vehicle charging station networks, investments in Solar Energy Systems (GES), and sustainability projects. It is stated that 25-30% of the income will be allocated for electric vehicle charging stations and another 25-30% for the establishment or acquisition of GES.

IPO Date and Symbol

The IPO date of Üçay Engineering will be finalized after the approved prospectus is published. The company's stock code has not yet been determined.

Important Information for Investors

According to the draft prospectus, the IPO will be carried out with equal distribution to individual investors. It is important for those considering investing to gather information about the company's future and the details of the IPO.