Berkosan, a Turkish company that produces packaging and insulation material, floated its shares on a new market at the Istanbul Stock Exchange, or ISE, on Friday.
Half of Berkosan’s shares started trading with a launch price of 2.04 Turkish Liras, giving the company a market value of 8 million liras. The company’s recent initial public offering, or IPO, was managed by Gediz Investment.
Active since 1993, Berkosan is the first Turkish small- and medium-sized enterprise, or SME, to float its shares at the ISE. The bourse has launched its “Emerging Companies Market,” or ECM, to attract Turkish SMEs. The ECM aims to be an organized market providing a liquid trading platform for SMEs, which have development and growth potential.
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