Kardemir Steel's TL4.48bn Fixed-Price IPO: Fresh Momentum for BIST 100

The Capital Markets Board (SPK) has approved Kardemir Çelik Sanayi A.Ş.'s fixed‑price IPO; offering 128 million lots at a fixed price of TL 35.00 will inject new liquidity into the BIST 100.

Kardemir's Strategic Growth Play

■Fixed price of TL 35.00 translates to a TL 4.48 billion capital raise.

■Post‑offering equity will rise from TL 720 million to TL 830 million, targeting an approximate 15.42% free float.

■With a total production capacity of 2.5 million tonnes/year, the firm serves the domestic market and exports to over 100 countries.

Financial Snapshot: Figures & Contributions

■Gross profit: TL 938.2 million, TL 1.3 billion, TL 1.0 billion (last three periods).

■110 million lots will be issued via capital increase; 18 million lots will be sold by existing shareholders.

■Shareholder sales: Tevfik Önder Karalp – 9 million lots, Özge Yastı – 4.5 million lots, Özlem Bakırel – 4.5 million lots.

Investor Shopping Cart: Lot Allocation

■Equal allocation for retail investors.

■Subscription method: fixed price (no T1/T2 balance usage).

■No additional sales will be made; shares will trade on the Yıldız Market.

Trading Terms & Market Impact

■No price‑stabilization mechanism will be applied, yet existing shareholders have pledged a one‑year lock‑up on sales.

■Proceeds will be earmarked for capacity expansion and energy‑cost reduction projects.

■The ticker symbol and eligibility for the participation index will be disclosed later.

Caner Yılmaz – Director of Technical & Quantitative Analysis, BIST 100

Kardemir Steel’s fixed‑price IPO adds depth to the BIST 100 liquidity pool, while the low entry price creates a technical support zone. On the Fibonacci retracement, the 38.2% level sits around TL 35.00, marking a potential upward breakout point. A price crossing above the Ichimoku cloud signals a mid‑term bullish outlook. The shareholder lock‑up and limited secondary offering should curb sell‑pressure, reducing volatility. Investors should closely monitor the shareholder sales and lot distribution to fine‑tune their entry‑exit strategies.