As of May 18, with the ticker code SOKM started to trade in Stock Exchange Istanbul, one of the biggest public offerings of the last 10 years. CEO of Şok Groceries, Uğur Demirel said "The success of Şok, which shows the difference in modern retailing, is a proud achievement."
Both foreign and domestic investors showed a great interest of $ 1 billion demand, with 2.3 billion TL volume, IPO is one of Turkey's largest. The gong ceremony held in the morning of May 18, 10.5 per share with the ticker code SOKM in Istanbul Stock Exchange.
Due to the start of trading of the shares of Şok Groceries, the Bell Ceremony held in Istanbul Stock Exchange; Borsa İstanbul A.Ş. Management and Executive Board Member, General Manager Murat Çetinkaya, Yıldız Holding Strategy and Growth President Nurtaç Afridi, Yıldız Holding Financial Affairs Head Mustafa Tercan, Şok Groceries Tic. Inc. CEO Uğur Demirel, Şok Marketler shareholders and employees as well as domestic and foreign banks of the consortium in public offering are all participated.
Sok Groceries shares, which are highly attracted by strong foreign and domestic investors, including global investment companies such as European Bank of Reconstruction and Development (EBRD), Genesis, Schroder Investment, Blackrock, Neuberger and Berman and GIC Private Limited, with an average of 2.4 times internationally, 1.8 times domestically demand to the offering. The transaction was conducted by Garanti Securities in Turkey while Yapı Kredi Investment was co-led in domestic markets, while Ünlü & Co, BofA Merrill Lynch, Credit Suisse and J.P. Morgan Equals Global Coordinators, Citigroup and UniCredit Bank as Co-Requisite Aggregators for foreign investors.
Speaking at the Bell Ceremony, Sok Groceries CEO Ugur Demirel stated that Şok Marketler is getting stronger with the public offering. " Şok Groceries er is growing with original format and solid strategy since 2015. Today we have reached 1.95 billion worth of investments from abroad successfully, we are proud to bring it to Turkey. All management teams and employees of Sok Marketler will continue to work as always, as well as after the IPO , with the responsibility of moving customer and investor satisfaction to the highest level.
"The success of Şok Groceries is proud"
Speaking at the Gong ceremony, Şok Groceries CEO Uğur Demirel continued:
"Today is a very meaningful and historic day for our company. We see this milestone as an important step in the development of Turkish modern retailing. Şok Marketler is one of the largest IPOs held in Turkey in recent years. Şok Marketler is revealing its difference with a correct positioning in the retailing market, well stating the consumer needs and meeting their needs with a reasonable budget. And we bring a new life to the sector with this point of view. I would like to thank to all my, 24.255, employees who carried us in to these days.
Sok is the 7th publicly held company of Yıldız Holding
As Yıldız Holding, we have seen the potential in advance in the market, Mustafa Tercan, CFO of the company said.He continues; We have been working on a healthy growth of our company with a great change and transformation since 2011, when we took over Sok Groceries. In 2011, our company has 1,200 stores opening every day 3 stores in 81 provinces of Turkey today has reached the number of 5,500 stores. From 2012 to 2017, the revenue grow 7 times. Our growth targets will continue forward. Our belief in the future of modern retailing in Turkey, we have become one of the industry's most important investor with our partners. It also confirms; the intense demand our to our shares from our respected international investors, our beleif to modern retailing.
Şok Groceries, with its strong equity and stable growth will continue its sustainable growth in food retailing and continue to contribute big support to the Turkish economy. This public offering brought to Turkey, 1.95 billion TL of foreign capital which is a great support to the country's economy, "he said.
Şok Groceries is the 7th publicly held company of Yıldız Holding after Ülker Bisküvi, Gözde Girişim, Makine Takım, Bizim Toptan, Kerevitaş ve Ufuk Yatırım.
CEO, Member of the Board and The Executive Committee Murat Çetinkaya; Stated that the success of the public offering clearly demonstrated the confidence of the capital markets to the Sok Groceries.
"This type of capital market issuance can be done in local and global extreme volatile market conditions, so the power of our country's markets is very important in that it shows the quality of our assets. We have also made some legislative changes in the second half of the year 2017 as the Istanbul Stock Exchange management, which explains the companies that have negative equity because of reasonable facts but have oprational profitability can be listed on the stock market.
Şok Groceries Inc. the public offering process was a good experience, case analysis for the stock market, CMB and issuer companies in terms of the possibilities of the new legislation. This process, which takes place at a time when the American bond interest rates are at 2.8% to 3.15%, that is, at a time when volatility is increasing both nationally and internationally, is pointing to a deep capital market that reaches its purpose in difficult times. He said.
