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18 February 2026

Recent Developments In Turkish Capital Markets - 2026 January

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Your Capital Markets Team in Türkiye summarised the latest updates from the Capital Markets Board as well as the issuances approved during January 2026.
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Your Capital Markets Team in Türkiye summarised the latest updates from the Capital Markets Board as well as the issuances approved during January 2024.

TURKISH CAPITAL MARKETS

Issuances Approved by the Capital Markets Board of Türki̇ye

2026 January

Initial Public Offerings
COMPANY NAME TYPE OF SALE ISSUE AMOUNT SALE OF EXISTING SHARES ADDITIONAL SHARE SALE OFFER PRICE
Best Brands Grup Enerji Yatırım AŞ Capital Increase + Sale of Existing Shares TRY 38,205,000 TRY 16,373,570(1) - 14.70 (2)
Akhan Un Fabrikası ve Tarım Ürünleri Gıda Sanayi Ticaret AŞ Capital Increase TRY 54,700,000 - - 21.50 (3)
Netcad Yazılım AŞ Capital Increase + Sale of Existing Shares TRY 12,000,000 TRY 28,000,000 (4) - 46.00 (5)
Üçay Mühendislik Enerji ve İklimlendirme Teknolojileri AŞ Capital Increase + Sale of Existing Shares TRY 50,000,000 TRY 10,000,000 (6) - 18.00 (7)
  1. Class B shares with a nominal value of TRY 16,373,570 held by the existing shareholder Sürkit Holding AŞ will be offered to the public.
  2. Shares with a nominal value of TRY 1 will be offered for sale at a fixed price of TRY 14.70.
  3. Shares with a nominal value of TRY 1 will be offered for sale at a fixed price of TRY 21.50.
  4. A total of TRY 28,000,000 nominal value Class (C) shares, consisting of TRY 24,500,000 nominal value shares held by existing shareholder Eurocad S.a.r.l. and TRY 3,500,000 nominal value shares held by existing shareholder Evon Yapı Proje İnşaat Mühendislik Bilgisayar Sanayi ve Ticaret AŞ, will be offered to the public.
  5. Shares with a nominal value of TRY 1 will be offered for sale at a fixed price of TRY 46.00.
  6. Class B shares with a nominal value of TRY 5,000,000 held by existing shareholder Ayhan KARACABEY and Class B shares with a nominal value of TRY 5,000,000 held by existing shareholder Mustafa BOZKURT will be offered to the public.
  7. Shares with a nominal value of TRY 1 will be offered for sale at a fixed price of TRY 18.00.
Share Issuances By Publicly Traded Companies
COMPANY NAME TYPE OF SALE ISSUE AMOUNT
Çan2 Termik AŞ Public Offering (Paid-in Capital Increase) TRY 3,000,000,000
Uşak Seramik Sanayi AŞ Public Offering (Paid-in Capital Increase) TRY 1,225,000,000
Kent Gıda Maddeleri Sanayi ve Ticaret AŞ Public Offering (Paid-in Capital Increase) TRY 110,000,000
Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret AŞ Capital Increase from Internal Resources TRY 4,200,000,000
Manas Enerji Yönetimi Sanayi ve Ticaret AŞ Public Offering (Paid-in Capital Increase) TRY 165,528,000
Frigo-Pak Gıda Maddeleri Sanayi ve Ticaret AŞ Public Offering (Paid-in Capital Increase) TRY 147,102,475
Smart Güneş Enerjisi Teknolojileri Araştırma Geliştirme Üretim Sanayi ve Ticaret AŞ Capital Increase from Internal Resources TRY 1,211,760,000
Pasifik Gayrimenkul Yatırım Ortaklığı AŞ Private Placement (1)
Mish Dekorasyon Sanayi ve Ticaret AŞ Public Offering (Paid-in Capital Increase) TRY 37,272,917
Transtürk Holding AŞ Private Placement TRY 44,376,716.11
Alves Kablo Sanayi ve Ticaret AŞ Capital Increase from Internal Resources TRY 1,440,000,000
Sodaş Sodyum Sanayi AŞ Capital Increase from Internal Resources TRY 105,000,000
QNB Bank AŞ Capital Increase from Internal Resources TRY 2,150,000,000
Gimat Mağazacılık Sanayi ve Ticaret AŞ Capital Increase from Internal Resources TRY 150,800,000

(1) At a price to be determined, which shall not be lower than TRY 3.17, being the share sale price realized by Fatih ERDOĞAN, Abdulkerim FIRAT and Mehmet ERDOĞAN on 10.10.2025, and not lower than the base price to be determined within the framework of the 'Procedure on Wholesale Transactions' of Borsa İstanbul AŞ, shares with a total sale amount of TRY 5,000,000,000 will be sold through private placement to Fatih ERDOĞAN, Abdulkerim FIRAT and Mehmet ERDOĞAN, by fully restricting the pre-emptive rights of the shareholders.

Issuances Of Debt Instruments
COMPANY NAME TYPE OF ISSUANCE TYPE OF SALE ISSUE AMOUNT
Eko Faktoring AŞ Bond/Financing Bond Qualified Investor TRY 125,000,000
Doğru Varlık Yönetim AŞ Bond/Financing Bond Qualified Investor TRY 400,000,000
Suzuki Motorlu Araçlar Pazarlama AŞ Bond/Financing Bond Qualified Investor TRY 1,000,000,000
İnfo Yatırım Menkul Değerler AŞ Bond/Financing Bond Qualified Investor TRY 2,000,000,000
Opet Petrolcülük AŞ Bond/Financing Bond Private Placement/ Qualified Investor TRY 10,000,000,000
T.C. Ziraat Bankası AŞ Bond/Financing Bond Private Placement/ Qualified Investor TRY 150,000,000,000
Yapı ve Kredi Bankası AŞ Bond/Financing Bond Public Offering/Private Placement/Qualified Investor TRY 80,000,000,000
Structured Debt Security Qualified Investor TRY 5,000,000,000
Türkiye Halk Bankası AŞ Capital-like Debt Security Foreign Market USD 1,000,000,000
Türkiye İş Bankası AŞ Green/Sustainable Bond/ Financing Bond Public Offering TRY 30,000,000,000
Fina Holding AŞ Bond/Financing Bond Private Placement TRY 4,000,000,000
Creditwest Faktoring AŞ Bond/Financing Bond Qualified Investor TRY 180,000,000
Burgan Yatırım Menkul Değerler AŞ Bond/Financing Bond Private Placement/ Qualified Investor TRY 500,000,000
Structured Debt Security Private Placement/ Qualified Investor TRY 1,000,000,000
Metgün Enerji Yatırımları AŞ Bond/Financing Bond Private Placement/ Qualified Investor TRY 2,500,000,000
PhillipCapital Menkul Değerler AŞ Bond/Financing Bond Private Placement/ Qualified Investor TRY 5,000,000,000
Aygaz AŞ Bond/Financing Bond Private Placement/ Qualified Investor TRY 3,000,000,000
Koç Finansman AŞ Bond/Financing Bond Private Placement/ Qualified Investor TRY 775,000,000
İntegral Yatırım Menkul Değerler AŞ Bond/Financing Bond Private Placement/ Qualified Investor TRY 500,000,000
Anadolubank AŞ Bond/Financing Bond Foreign Market USD 250,000,000
Qua Granite Hayal Yapı ve Ürünleri Sanayi Ticaret AŞ Bond/Financing Bond Foreign Market EUR 200,000,000
MLP Sağlık Hizmetleri AŞ Bond/Financing Bond Qualified Investor TRY 20,000,000,000
ING Bank AŞ Bond/Financing Bond Qualified Investor TRY 8,000,000,000
Meksa Yatırım Menkul Değerler AŞ Bond/Financing Bond Qualified Investor TRY 1,000,000,000
Global Menkul Değerler AŞ Bond/Financing Bond Private Placement/ Qualified Investor TRY 1,000,000,000
Aktif Yatırım Bankası AŞ Bond/Financing Bond/ Structured Debt Security Public Offering/Qualified Investor TRY 21,000,000,000
Türkiye İş Bankası AŞ Bond/Financing Bond Public Offering/Private Placement/Qualified Investor TRY 100,000,000,000
Structured Debt Security Qualified Investor TRY 10,000,000,000
Destek Finans Faktoring AŞ Bond/Financing Bond Foreign Market USD 20,000,000
Türkiye Vakıflar Bankası

TAO

Bond/Financing Bond/ Capital-like Debt Security Foreign Market USD 5,000,000,000
Sustainable Bond/Financing
Bond/ Capital-like Debt Security USD 5,000,000,000
Türkiye Sınai Kalkınma Bankası AŞ Bond/Financing Bond Foreign Market USD 750,000,000
Green/Sustainable Bond/ Financing Bond Foreign Market USD 500,000,000
Alternatifbank AŞ Bond/Financing Bond Foreign Market USD 200,000,000
Q Yatırım Bankası AŞ Bond/Financing Bond Foreign Market TRY 1,000,000,000
Türkiye İş Bankası AŞ Capital-like Debt Security Qualified Investor TRY 25,000,000,000

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