Strong Demand for Kardemir Çelik IPO Exceeds Offering by Fourfold

Strong Demand for Kardemir Çelik IPO Exceeds Offering by Fourfold

The IPO of Turkish steel company Kardemir Çelik attracted strong demand, with over 814,000 investors participating and the total size of the IPO reaching ₺4.48 billion. The company offered 128 million shares at a price of ₺35 per share, and the IPO was oversubscribed by fourfold. The majority of participants were domestic retail investors, while institutional investors also showed strong interest. The high level of demand for the IPO is a positive sign for the Turkish steel industry, which has been facing challenges in recent years. The success of the IPO is also a testament to the growing interest in the Turkish market among international investors.