The initial public offering (IPO) application of OYAK Yatırım Menkul Değerler A.Ş. ("OYAK Yatırım") to the Capital Markets Board has been approved, and the process will be held on June 2-3-4, 2021 through fixed price book building.
The initial public offering (IPO) application of OYAK Yatırım Menkul Değerler A.Ş. ("OYAK Yatırım") to the Capital Markets Board has been approved, and the process will be held on June 2-3-4, 2021 through fixed price book building. In the IPO where the demands will be collected at TRY 18.65 for the share with a nominal value of TRY 1, it is being planned to sell shares with a total nominal value of TRY 28.2 million through capital increase and joint sale. In the event of an oversubscription, OYAK's shares with a nominal value of TRY 4.7 million will be offered to the public within the scope of the additional sale. The total size of the IPO is expected to reach TRY 32.9 million. With nearly 40 years of know-how and experience in the capital markets, OYAK Yatırım has achieved a rapid growth trend in recent years, increasing its profits eight-fold in the last four years and achieving a net profit of TRY 141 million in 2020. OYAK Yatırım offers a significant return potential for its investors with three subsidiaries, including OYAK Portföy Yönetimi A.Ş. and OYAK Grup Sigorta ve Reasürans Brokerliği A.Ş., which the company owns 100 percent of the shares, and OYAK Yatırım Ortaklığı A.Ş., whose shares are traded on the stock exchange.
The application made by OYAK Yatırım Menkul Değerler A.Ş., a subsidiary of OYAK Group Companies, for initial public offering to the Capital Markets Board has been approved. OYAK Yatırım shares will be offered to the public at a fixed price on June 2-3-4, 2021 through fixed price book building method. The IPO price of OYAK Yatırım’s shares with a nominal value of TRY 1 is set as TRY 18.65. As the company’s issued capital has been increased from TRY 88 million 330 thousand to TRY 94 million, shares with a nominal value of TRY 5 million 670 thousand to be issued, as well as the share of current shareholder OYAK with a nominal value of TRY 22 million 530 thousand will be offered to the public.
Free float rate can reach 35 percent
After the sale of shares with a total nominal value of TRY 28.2 million through capital increase and shareholder sale, the company will have a 30 free float rate. If an additional share with a nominal value of TRY 4.7 Turkish used, the free float rate may reach 35 percent.
OYAK has been the main partner of OYAK Yatırım with a 99.83 percent share prior to the IPO. Since 1982, OYAK has been providing intermediary, corporate, financial, and investment consultancy services to its retail and corporate, national and international customers in capital market instruments with 13 branches spread across 11 provinces in Turkey.
OYAK Yatırım has significant experience in the fields of stock brokerage activities as well as privatization, public offering, acquisition and merger, and bond issuance. OYAK Yatırım continues to expand its customer base with pioneering mobile applications such as OYAK Trader while offering a wide range of quality services to its customers by closely following industry dynamics and demands.
Brokerage house with strong affiliation structure
One of the most important features of OYAK Yatırım is that it has three subsidiaries under its roof. Thus, investors who invest in OYAK Yatırım shares will become partners with four companies, including insurance brokerage, portfolio management and investment trust companies.
OYAK Group Sigorta ve Reasürans Brokerliği A.Ş., a subsidiary of OYAK Yatırım, which was founded in 2017 with a capital of TRY 1.5 million, increased its shareholders’ equity by 40 times this year. As of April 2020, Lloyd's, the world's most established and leading insurance and reinsurance market where insurance was born, became the authorized broker of global players.
OYAK Yatırım Ortaklığı A.Ş., another subsidiary whose profit has increased 4.5 times in the last five years, has received many awards for its net asset increase.
The portfolio size of OYAK Yatırım, managed by OYAK Portföy Yönetimi A.Ş., another subsidiary of OYAK Yatırım, increased 72 times over five years and reached TRY 3.8 billion by the end of 2020. OYAK Portföy manages the funds established by the companies of Emeklilik ve Hayat A.Ş. as well as the funds it is a founder of, and continues to work with the management skills of both individual and corporate portfolios.
The largest public offering of 2020
OYAK Investment, which operates in 24 countries across six continents, is the leader of the consortium and the largest public offering in 2020 with Kervan Gıda. OYAK Investment is a group company that has accelerated with increasing interest since 2020. OYAK Yatırım has won the first place in private sector bond issuances (lease certificates) among non-bank brokerage houses in recent years. It is among the institutions that examine the most companies within brokerage houses within the scope of research.
OYAK Yatırım is the first intermediary institution to perform transactions in the Committed Transactions Market. It is the leader in this market and continues to operate as one of the few brokerage houses that provides brokerage services in foreign stock transactions.
Permission granted for venture capital fund
OYAK Portföy expanded its venture capital activities and invested in the majority stake of the United Payment Services and Elektronik Para A.Ş. Continuing to grow in this area, the company also obtained CMB permission for the fifth venture capital investment fund. In addition to investments in the existing venture capital, investment is planned in the consumer financing company as venture capital investment fund.
IPO date: June 2-3-4, 2021
IPO method: Fixed price book building
IPO price: TRY 18.65 for the share with a nominal value of TRY 1
Free float rate: 30 percent (35 percent with additional sales)
Amount of shares to be offered to the public: Shares with a total nominal value of TRY 28.2 million. (Additional sales, shares with nominal value of TRY 4.7 million.)
Issued capital of the company: TRY 94 million after the IPO
Company's profit for 2020: TRY 141.1
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