Gentaş Kimya to Go Public

Turkchem 27 Feb 2026 40 3 dk okuma

Gentaş Kimya Sanayi ve Ticaret Pazarlama A.Ş. (Gentaş Kimya), one of the established companies in Turkey's chemical sector with a history of more than 25 years, is launching its public offering process. The offering will be carried out on 2-3 March 2026 on the Borsa İstanbul (BİST) Primary Market through the "Sale on the Exchange – Fixed Price Book Building and Sale" method.

With over 25 years of history, Gentaş Kimya Sanayi ve Ticaret Pazarlama A.Ş. (Gentaş Kimya), a well-established company in Turkey's chemical sector, is launching its initial public offering. The IPO will take place on 2-3 March 2026 on Borsa İstanbul (BİST) Primary Market through the "Exchange Sale – Fixed Price Bookbuilding and Sale" method.

Under the IPO led by Deniz Yatırım Menkul Kıymetler A.Ş., shares will be offered for sale at a fixed price of TRY 11. Investors will be able to participate in the IPO under the code GENKM during the bookbuilding period.

IPO Size TRY 1.37 Billion
Within the scope of the IPO, shares with a total nominal value of TRY 124.8 million will be offered for sale, consisting of a capital increase of TRY 84 million due to the company's issued capital being raised from TRY 525 million to TRY 609 million, and a secondary sale of TRY 40.8 million. Following the IPO, the company's public float ratio will be 20.5%. The total IPO size is planned at TRY 1,373,295,000.

Gentaş Kimya shares, which comply with participation indices, are targeted to be traded on Borsa İstanbul Main Market.

IPO Proceeds to Be Directed to Growth and R&D

The proceeds from the IPO are planned to be used as follows:

- 45-55% for strengthening working capital,

- 15-25% for increasing access to new markets,

- 15-25% for reducing financial debt,

- 5-15% for R&D activities.

"We Will Become More Competitive With the Power of Capital Markets"
Macit Aydın, Chairman of the Board of Gentaş Kimya, in his assessment regarding the IPO process, stated that the company has focused on building a permanent and strong corporate structure since its establishment, and that they view the IPO as a natural step in their vision of transparency and sustainable growth. Aydın emphasized that they aim to reach a more effective position in both domestic and international markets with the financial strength provided by capital markets.

"We Will Accelerate Our Goal of Becoming a Global Brand"
Orhan Kahraman, Vice Chairman of the Board of Gentaş Kimya, made statements regarding the company's future vision. Kahraman stated that the company carries out formaldehyde, formaldehyde-based resin and acrylic sheet production in modern manufacturing facilities with 65,000 square meters of closed area in Dilovası GEBKİM. Noting that the products are used in many sectors such as construction, furniture, automotive, metal casting, pharmaceutical and healthcare, Kahraman expressed that with the IPO they plan to accelerate the transition to higher value-added products.

With the Novalak product, for which test production began in 2024, it is targeted to help reduce imports and capture a share of the global phenol resin market. Additionally, the expansion of export markets, particularly to the United States, is planned in the acrylic sheet product group. The company aims to increase its export share from the 20% level in 2025 to higher levels.

Strong Financial Performance
In 2025, the company achieved approximately TRY 4,690,000,000 in net sales revenue while realizing approximately TRY 747,000,000 in EBITDA. EBITDA margin increased from 13% in 2023 to 16%. As of 31 December 2025, the company has a net cash position of TRY 101 million and stands out with its strong balance sheet structure.

Sustainability and Energy Investments
Gentaş Kimya places sustainability principles at the center of its operations. Having completed its roof solar power plant project, the company meets part of its energy needs from renewable sources. Additionally, with a 2.3 MW capacity steam turbine investment, it is planned to recover energy generated during production and use it in electricity generation. The company aims to meet approximately half of its total energy needs from renewable and recovered sources.

Deniz Yatırım: "High Growth Potential"
Hüseyin Melih Akosman, General Director of Deniz Yatırım, the lead underwriter, stated that Gentaş Kimya is a company with high growth potential due to its strong balance sheet structure, low debt ratio, consistent R&D investments and export capability. Akosman expressed that the IPO will accelerate the company's growth strategy.