Ulusoy Un, Samsun’s first company to go public, started being traded on Borsa İstanbul
Ulusoy Un Sanayi Ticaret A.Ş., a leading flour producer of Turkey, offered 27.8% of its shares to the public, and started being traded on Borsa İstanbul following a gong ceremony. The initial public offering (IPO) of the company, realized on November 12, 13 and 14, 2014 attracted a demand equal to 1.2 fold of the shares offered. Ulusoy Un Sanayi Ticaret A.Ş.’s equities will be traded on Borsa İstanbul National Market with the ticker code “ULUUN”. The gong ceremony organized on the occasion was participated by Samsun Governor İbrahim Şahin, Borsa İstanbul Executive Vice President Aydın Seyman, Şeker Yatırım Deputy Chairman and Şekerbank CEO Halit Yıldız, Şeker Yatırım CEO Osman Göktan, Şekerbank Vice Presidents Orhan Karakaş and Gökhan Ertürk, Şeker Yatırım Vice President Ramazan Öznacar as well as other representatives of Şekerbank and Şeker Yatırım, Ulusoy Un Chairman Fahrettin Ulusoy, and Ulusoy Un CEO Günhan Ulusoy with company officials.
Demand was 1.2 fold
Ulusoy Un offered its shares to the public through a consortium led by Şeker Yatırım Menkul Değerler A.Ş., and attracting a demand equal to 1.2 fold of the offered shares, it successfully completed its initial public offering at a price of TL 3.15. 3 thousand 418 investors applied to purchase the equities with a total nominal value of TL 23 million 500 thousand. Ulusoy Un offered 27.8% of its shares to the public, generating revenues of TL 74 million.
In his speech at the gong ceremony, Samsun Governor İbrahim Şahin pointed to the fact that Borsa İstanbul has become a prominent exchange while the Turkish financial sector has revived, and Samsun is an ore in terms of investment. “Thanks to transportation facilities and free zone, Samsun has gained importance in terms of investment opportunities”, said Şahin, adding, “I congratulate Ulusoy Un for the success they have registered in the last 45 years. The interest that this IPO has attracted is also a proof of Samsun’s importance. Congratulations, Ulusoy Un”.
Borsa İstanbul Executive Vice President Aydın Seyman said in his speech that including Ulusoy Un, a total of 13 companies have gone public so far this year, generating total revenues of TL 546.2 million, in addition to the securities issues of TL 55.6 billion in the Debt Securities Market. Aydın Seyman reminded the audience that there are a total of 7 IPO applications in progress, 3 for the Equity Market, and 4 for the Emerging Companies Market, with a total of 423 companies currently traded on Borsa İstanbul at a market capitalization of TL 587 billion. Seyman said that 2,600 investors purchased equities of Ulusoy Un, and 978 of these are new investors.
Aydın Seyman indicated that Ulusoy Un is the seventh company of the Black Sea region, and the first company of Samsun to go public, and went on to say, “We are excited about the public offering of Anatolian companies. We are ready to provide every support to Anatolian companies. We believe that the public offering of a company is important in the sense that it sets an example for other companies. From now on, we will ask Anatolian companies such as Ulusoy Un to share their IPO experience. We are pleased to welcome Ulusoy Un to Borsa İstanbul.”
Ulusoy Un Chairman Fahrettin Ulusoy said that, behind the success of Ulusoy Un, lies a large team working with faith and discipline, and that they achieved this success all together, adding, “Since Ulusoy Un has been founded, we have produced food that people can confidently consume. We will continue to do so. The information and vision of the new generation is technology-oriented. We will continue with more innovative approaches”. Ulusoy said that it is not easy to achieve sustainable success for a family-run business, adding, “We grew our business with respect and confidence in every member of the family. I do hope that the IPO will prove beneficial for our country and our company”.
Ulusoy Un’s CEO Günhan Ulusoy said that, as a leading brand introducing Turkish flour to the world, they are pleased to be traded on Borsa İstanbul. “With the IPO, we have made a significant step to becoming an institutionalized company”, said Ulusoy and emphasized their increased responsibility along with the public offering.
Ulusoy continued, “I do hope that as the first company from Samsun to go public, Ulusoy Un’s public offering sets an example for the distinguished companies of Samsun and Anatolia. Thanks to this IPO, we have taken a further step in terms of institutionalization. We also have taken a further step towards our target of becoming an international company. We are proud to share our 45-year commercial know-how and experience in the sector with new partners, and adding our esteemed shareholders to Ulusoy Un family. We realized the IPO with bookbuilding at a price range on November 12, 13 and 14. 83% of the income generated through this IPO was added to the company’s equity capital. Ulusoy Un will use these funds in financing its investments and operating capital and continue to march ahead in accordance with its strategic targets”.
Şeker Yatırım Deputy Chairman and Şekerbank CEO Halit Yıldız said at the ceremony that, having completed the IPO of Ulusoy Un successfully, they believe that going public contributes to institutionalization. Yıldız went on to say, “We attach great importance to the efforts of real sector companies to go public. With Şekerbank’s Anatolian Banking mission, we full heartedly support Anatolian companies’ going public. Ulusoy Un’s IPO has been the third large public offering of this year, and we do hope that it will prove beneficial for Turkey, Borsa İstanbul investors, as well as the company itself”.
About Ulusoy Un
Established in Samsun in 1989, Ulusoy Un carries out its production activities in its modern facilities of a covered area of 27,000 m2 in Samsun and Çorlu. The company’s turnover reached TL 682 million in 2013, ranking 410th in İstanbul Chamber of Industry’s largest 500 companies. Ulusoy Un has exported to 72 countries in 5 continents and holds TSE (Turkish Standards Institute), ISO 9001, ISO 22000, ISO14001 and Halal Food production certificates, fulfilling Turkey’s and the world’s needs for healthy and reliable flour.
