skip to Main Content

Trabzonport to trade on stock market this month

Trabzon, Turkey (PortSEurope) January 5, 2018 – The initial public offering (IPO) of 30% of the Trabzonport, whose right to operate is held by Turkey’s Albayrak, is expected to be completed within this month, the company said yesterday.

According to the statement by the company, the unit share price in the public offering was set at TL 15.5 ($4.12). While the size of the public offering will be around TL 97.7 million, the total value of the company will be around TL 325.5 million.

In December 2017, applications were made to the Capital Markets Board (CMB) and Borsa Istanbul for the public offering of shares, which corresponds to 30% of the issued capital of TL 21 million ($5.37 million), held by Trabzon Limanı İşletmeciliği A.Ş. with a nominal value of TL 6.3 million belonging to Albayrak Turizm Seyahat Insaat Ticaret A.Ş.

Following the acquisition of the 30-year operation right by the Albayrak Group in 2003, the port’s handling capacity has been increased from 3.9 million to 10 million tons. Trabzon Port today is the largest port in the eastern Black Sea region with the amount of cargo handled and the size of the port area.

With the public offering, Trabzon Harbor will become the first port trading on the stock exchange.

Muzaffer Ermiş, general manager of Trabzon Limanı İşletmeciliği A.Ş, said in the statement that Trabzon Port has the ability to handle general, bulk and container cargoes for customers without the need for additional investments due to its modern infrastructure and machinery park.

“We are proud that we will be the first port to trade on the Bourse,” said Ermiş, explaining that they agreed with Deniz Yatırım on public offering activities and made applications to CMB and Istanbul Stock Exchange. expression.

“The rising economies of the world are in the east and the port is the most effective gateway to the east and west, and the connection of the road to the northeastern and eastern regions of the Port of Trabzon is the same as that of the port of Trabzon, new Maçka Tunnel and Kop Mountain Tunnel Crossing projects will be completed soon. .

Deniz Investment General Manager Melih Akosman emphasized that the potentials of Trabzon Port in the eastern countries of Turkey and the Russian and Iranian markets are very important when the strategic location and highway connections are evaluated and added that the Albayrak Group company Trabzon Port Operation Co. has been a long-term managed by an experienced team.

Whether port management is an administration of a management with a high degree of global and regional needs and potential, lima provides competitive advantage. Trabzon Port has a strong revenue structure with stable handling volume. Moreover, the company’s revenues are based on foreign currency, it gives advantages in terms of the exchange rate level and offers important protection against exchange rate risk.

The Trabzon Port, which dates back centuries, served for many years as one of the five important ports of the Ottoman Empire. The new port, whose foundation was laid July 8, 1946, was modernized with work that began in 1980 to respond to increasing ship traffic. Following the acquisition of the 30-year operation right by the Albayrak Group in 2003, the handling capacity of Trabzon Port increased from 3.9 million to 10 million tons. Today, Trabzon Port is the largest port in the eastern Black Sea region with the amount of cargo handled and the size of the port area

Source: Daily Sabah

Copyright (C) PortSEurope. All Rights Reserved. 2018.

Back To Top