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In his address at the opening bell ceremony, Borsa İstanbul CEO Korkmaz Ergun contended as follows:
“Ladies and gentlemen, I welcome you all to the ceremony held for the Initial Public Offering (IPO) of Gen İlaç. First of all, due to the forest fire we are facing, I would like to express that we stand by all of our officers and people who are struggling with full effort as Borsa İstanbul. I wish God's mercy on those who lost their lives and a speedy recovery to all the injured. Gen İlaç makes us all proud in the pharmaceutical industry with its qualified product and service approach. Once again, it has been understood during the pandemic that the breakthroughs of our companies such as Gen İlaç will continue to carry our country a step further in this strategically important sector. Thus, the place and significance of Gen İlaç in the sector and its accomplishments in its activities also resonate with the success of the IPO. Gen İlaç launched a successful IPO with an amount of approximately 738 million TL and sales to 49 thousand investors.
I would like to further emphasize three issues pertaining to this IPO.
- There was a very high demand for the IPO, exceeding 6 times in total. The 8 times demand from individual investors is another indicator of this high interest.
- 38% of sales were made to domestic institutional investors.
- More importantly, 25% of sales were made to foreign institutional investors.
To put it more simply, when the right company is offered to the public at the right time and at the right price, both foreign institutional investors and domestic institutional investors show high demand. The thing is, this high demand, foreign and corporate interest, demonstrates the trust in our country, economy, capital markets, and the stock market.
I would like to extend my thanks to the esteemed managers and employees of our Company, the esteemed managers and employees of our brokerage institution, and everyone who contributed to this outstanding public offering. I would like to welcome Gen İlaç to the Borsa İstanbul family, and wish it may yield successful results for our capital market.”
