The gong rang for Astor Guc in Borsa Istanbul. Astor Power General Manager Olcay Doğan informed Bloomberg HT about the IPO.
Astor Power General Manager Olcay Doğan explained the details of the public offering to Bloomberg HT.
Doğan said, “We collected requests on 11-12-13 January. There was a strong demand. We collected a demand of around 90.5 billion TL, and the demand was 34.5 times the size of the public offering. There was also a valuable demand from foreign investors. There was a demand of around 100 billion TL, and we have now offered 12.5 percent, about eight times the size of this public offering, to foreign investors. We will make new investments in the next period. We have concluded our investments to a great extent since 2015, and in the coming period, we will invest in areas where we will improve our production processes that will increase competition both in exports and in the country.”
Providing information about how they will use the income from the public offering, Doğan said, “We will invest in solar power, we will continue to produce our own electricity in our factory. We are entering the electric vehicle charging station business line. In 2023, we plan to invest in a valuable place on that side as well, and we allocate 40 percent of the investments to investments. We will use 20 percent for our working capital needs, and we will use 20 percent to pay off our financial debts. We are planning to invest 10 billion dollars in charging stations investment”.
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