Söke Commodity Exchange Achieves a First in Its History

Söke Achieves Historic First on the Stock Exchange Söke, which collected demand for the year's first initial public offering on 4-5-6 January, achieved a historic first in Borsa İstanbul history. Söke achieved the highest demand coefficient in Borsa İstanbul history, with demand reaching 118 times the IPO size of TRY 581 million. Meanwhile, the total demand amount of TRY 68.7 billion marked the highest demand ever received for an IPO in Borsa İstanbul history. Consumer confidence on retail shelves was reflected in the stock exchange, and Söke wrote its name in the annals of Borsa İstanbul history. Ulusoy Un, one of Turkey's largest food companies and Borsa İstanbul's first flour company, made Söke, its subsidiary, the second flour company traded on Borsa İstanbul by taking it public. According to independent consumer research results (September 2022), Söke, Turkey's most recognized flour brand, made the most ambitious entry into Borsa İstanbul. Söke, where consumer confidence translated into investment, achieved a historic first in Borsa İstanbul history, earning the distinction of the company that received the highest demand both in amount and demand coefficient to date. Under the leadership of Qnb Finansinvest, Söke collected demand at a share sale price of TRY 7.5 per share on 4-5-6 January, receiving demand 118 times the IPO size of TRY 581 million. As a result, a record was set in Borsa İstanbul history with demand totaling TRY 68.7 billion from 860,816 investors. The currency equivalent of the incoming demand, USD 3.6 billion, was recorded as significant demand not only for Turkey but also for global financial markets. Söke Board Chairman Dr. Eren Günhan Ulusoy, providing information on the historic firsts they achieved in Borsa İstanbul history and the IPO results, said: "Söke is one of the most important players in the retail flour market. Ulusoy Un held the title of first flour company traded on Borsa İstanbul. After Ulusoy Un's IPO, we wanted to carry the momentum it experienced to Söke as well. Söke, the consumer's choice for 60 years, broke demand collection records in Borsa İstanbul history and demonstrated investor confidence in the stock exchange. With both its demand coefficient and the amount it achieved as a result of demand collection, Söke set firsts on Borsa İstanbul, becoming the company with the most ambitious entry into the exchange. We are grateful to all our investors who have shown us such confidence and made us experience the pride of executing the highest-demand IPO in history, as they became partners in Söke's future." he said. The opening gong for Söke, which had its IPO in its 60th year, will ring on Borsa İstanbul on Thursday, 12 January.