Akol Law Advises on Two Turkish IPOs

Akol Law Advises on Two Turkish IPOs

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Akol Law has assisted both transportation services company Turex Turizm Tacimacilik Anonim Sirketi and ceramic tile producer Qua Granite Haya Yapi ve Urunleri Sanayi Ticaret A.S. on their initial public offerings at Borsa Istanbul.

The IPO for Turex Turism was at 12 Turkish lira and reached a float rate of 21%. It was underwritten by Oyak Yatirim.

The price per share of Qua Granite was 16.46 Turkish lira and reached a float rate of 20%. According to Akol Law, the IPO was the largest in the Turkish market since 2018, "with a record-breaking demand of over 846,000 investors amounting to TL 2.3 billion in total, the highest demand in sales made via stock exchange so far." The IPO was underwritten by Info Yatirim.

The Akol Law teams working on both deals were led by Partners Omer Gokhan Ozmen and Gunes Yalcin and included Counsel Handan Bacioglu, Counsel Handan Bac─▒oglu, and Associates Murat Ayyildiz, Gulmin Cosar, and Alp Ozturk. Associate Yagmur Aker worked on the Turex Turizm IPO as well.