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Borsa İstanbul’s bell rang for Aselsan A.Ş.

07 June 2018 - 13:11

ASELSAN has increased its issued capital to TL 1,140,000,000 and its free float rate to %25,7 through secondary public offering and shares started being traded again following bell ceremony. During his opening remarks, ASELSAN Chairman of the Board of Directors, President and CEO Prof. Dr. Haluk Görgün said “ASELSAN is Turkey’s mutual asset ”

Defense Industry Undersecretary Prof. Dr. İsmail Demir, Deputy General Manager of Turkish Armed Forces Foundation Sadık Piyade, ASELSAN President and CEO Prof. Dr. Haluk Görgün, Borsa İstanbul Chairman of the Board and the Executive Committee Himmet Karadağ, General Manager Member of the Board and the Executive Committee Murat Çetinkaya and executives of the investment companies of the consortium in secondary public offering (Ak Investment, Garanti Investment, İş Investment, Vakıf Investment, Yapı Kredi Investment and Ziraat Investment) participated bell ceremony.

In his opening remarks, Borsa İstanbul Chairman Himmet Karadag said: “ASELSAN Electronics Industry and Trade, INC. managed to get the TL 3 Billion fund through secondary public offering. Its free float rate has been increased to 25,7% including capital increase, shares of this secondary public offering were purchased by 63.096 investors. ASELSAN has increased its issued capital to TL 1.14 billion and its market capitalization has been approximately TL 24.3 billion. Nine companies that completed their public offerings has obtained TL 5.4 billion income. Total market capitalization of those nine companies is TL 18.6 billion. One of each four investors purchased shares for the first time, which means new investors to our exchange.”

The Solution for Fluctuations in Foreign Exchange Rates is Derivatives Market (VIOP)

During his speech, Mr. Karadağ also mentioned fluctuations in market prices and said: “As Borsa İstanbul, we are working on the development of our derivatives market and its products.  As we all know, fluctuations in foreign exchange rates in certain fragile periods is a serious problem for our companies. This problem doesn’t last forever. Borsa İstanbul offers trading of futures and options contracts in order to solve the problem. It’s possible to eliminate the negative effects of fluctuations in foreign exchange rates with our Derivatives Market. In order to make exchange rate predictable, derivatives products should be actively used. I encourage our companies and especially our Central Bank to use derivatives products more actively.”

Turkey’s Mutual Asset

In his opening remarks, ASELSAN President and CEO Prof. Dr. Haluk Görgün stated that ASELSAN is Turkey’s mutual asset and especially highlighted the magnificent attraction of local individual investors. Mr. Görgün said “Over 64.000 investors were attracted to our public offering which was beyond our expectation. That shows once again we are the dream of our nation and I thank all our investors who believe in Turkey and ASELSAN and make us more stronger.”

Mr. Görgün, who expressed that he always admires and be proud of ASELSAN since he was a student,  continued his speech with the following “Since 1975, ASELSAN Electronics Industry and Trade, INC. is Turkish engineers’ proud in defense industry. We are working on how our technology can be also useful for other industries such as transportation, energy, security and health rather than defense industry. Our aim is to decrease Turkey’s foreign dependency in terms of technology and also to decrease our current external deficit  by producing value-added high technology products. Our net  profit was TL 1 billion 388 million in 2017. At the end of March, 2018, ASELSAN has signed agreements with the total value of USD 7.5 billion. Our exports exceed TL 784 million in 2017 and we believe that we will reach higher export volumes. We are planing to hit USD 1 Billion export value in next five years.”

Mr. Görgün also stated that ASELSAN spends 7% of its turnover in research-development so ASELSAN is Turkey’s number one in research-development and said that after completing their public offering, they will use their new fund for research-development, artificial intelligence, local high-technology, domestic and international investments and buying new companies.

3.4 billion Turkish Liras demand was shown

ASELSAN has increased its issued capital with secondary public offering by TL 140 million to TL 1.14 and its new free float rate is % 25,70.

ASELSAN’s secondary public offering was the first public offering where six banks of consortium worked together for local and foreign investors. It has the highest number of local individual investors with the number of 62.802 in ten years. Besides, it has reached TL 1.8 Billion worth of investments from local individual investors and total demand has been TL 3.4 Billion in ten years.

ASELSAN’s shareholders are widely local investors, %60 of total. At its secondary public offering, %80 of new shares are purchased by local investors.There were 132.398.750 local demand and 111.804.108 of local demand were purchased by local investors. There were 28.195.892 foreign demand and all those shares are purchased by foreign investors.