Borsa İstanbul’s Opening Bell Rang For Ulusal Faktöring A.Ş.

Borsa İstanbul’s Opening Bell Rang For Ulusal Faktöring A.Ş.
11/11/2021

Receiving 23,9 times the demand for the Initial Public Offering (IPO), Ulusal Faktöring A.Ş. listed in Borsa İstanbul with the Opening Bell Ceremony held on November 11, 2021. Started to be traded in the BIST Main with the ticker code “ULUFA”, Ulusal Faktöring A.Ş. aims to provide financial support for more SMEs with the IPO revenue.

Operating in the factoring sector for over 20 years, the company set off for the IPO journey under the leadership of Osmanlı Yatırım Menkul Değerler A.Ş and a consortium of 26 intermediary institutions.

Korkmaz Ergun: “SMEs, the backbone of our economy...”

In his address at the Opening Bell Ceremony, Korkmaz Ergun, the CEO of Borsa İstanbul A.Ş., stated the following: Today, I welcome you all to your home, to the Opening Bell Ceremony hosted by our Exchange as we celebrate the listing of Ulusal Faktöring A.Ş. at our Exchange. As Borsa İstanbul, with the IPOs, we support the growth of our companies as well as contribute to the growth of our country by opening new working areas and providing employment. By launching IPOs, companies strengthen their corporate structure, equity capital, provide long-term re-sourcing and financing costs. All of these advantages are indicators of the importance of IPO’s for our country’s economy.

As the backbone of our economy, our SMEs and tradesmen are among the most important customers of the factoring sector as well. Enabling the uninterrupted cash flow of our SMEs and tradesmen is of utmost importance for our real sector. For this very reason, the contributions of the factoring sector are essential. In this sense, about 70% percent of the source of the factoring sector is bank loans. With IPOs, companies will be able to reach new financial resources and reduce costs of financing as well. As such, factoring companies can transfer new resources to our SMEs, while it can reflect the decrease in financing costs it has obtained to our SMEs and tradesmen. Ulusal Faktöring A.Ş. launched an outstanding IPO with a size of 121 million TL to approximately 51 thousand investors. In this regard, I consider the IPO of Ulusal Faktöring A.Ş. very important. I would like to congratulate them. I wish them continued success in the capital markets.”