CVK Maden sets out share mix for subsidiary’s planned IPO
Hayri Ögelman Madencilik’s board approved a capital increase and sales of existing shares, and appointed Vakıf Yatırım to manage the offering.
Key takeaways
- The subsidiary plans to raise its capital from 1 billion TL to 1,250,000,000 TL.
- CVK Maden and Hüseyin Çevik plan to sell existing shares in the offering.
- Vakıf Yatırım was appointed as the authorized intermediary and signed an agreement on October 9.
CVK Maden said its subsidiary Hayri Ögelman Madencilik’s board approved a share offering plan that combines a capital increase with sales by existing shareholders. The board made the decision on October 9, and appointed Vakıf Yatırım as the authorized intermediary.
The plan would raise the subsidiary’s issued capital from 1 billion TL to 1,250,000,000 TL, within its 15 billion TL registered capital ceiling. The capital increase would issue 250,000,000 shares, each with a nominal value of 1 TL.
The offering would also include existing shares with a total nominal value of 125,000,000 TL: 100,000,000 TL worth held by CVK Maden and 25 million TL worth held by Hüseyin Çevik. This part would transfer ownership rather than add capital to the subsidiary.
Vakıf Yatırım and Hayri Ögelman Madencilik signed an underwriting authorization agreement on October 9. The KAP disclosure reports board decisions and preparatory steps, not a completed offering; it gives no offer price or timetable.
Earlier approvals concerned changes to the subsidiary’s articles of association and its move to the registered capital system. Hayri Ögelman Madencilik’s shareholders approved the updated articles at a September 7 general meeting. CVK Maden said it would share further material developments as they occur.
This article was produced with the help of AI technology. Source: Yahoo Finance
