Koroplast to Go Public

Koroplast Goes Public The initial public offering application approved by the Capital Markets Board (CMB), Koroplast Cleaning Packaging Products Industry and Foreign Trade Inc. (Koroplast), is going public under the leadership of Yapı Kredi Yatırım. Demand for Koroplast shares will be collected on 20-21-22 July at a fixed price of TRY 4.68. Koroplast, established in 1981 within Korozo Packaging Industry and Trade Inc. (Korozo Ambalaj), has continued its operations as a separate company since 2017. Koroplast, which introduced Turkey to products such as garbage bags and refrigerator bags and is the architect and market leader in the kitchen helper products category, submitted its IPO application to the CMB on 30 June 2022. The demand collection dates for the public offering were set as 20-21-22 July 2022. Koroplast's demand collection will be carried out by a consortium consisting of 38 brokerage firms led by Yapı Kredi Yatırım. With the increase of paid capital from TRY 150 million to TRY 174.6 million, the share price was determined at TRY 4.68 for the public offering of shares with a nominal value of TRY 78.5 million, including shares with a nominal value of TRY 24.6 million that will be issued and shares with a nominal value of TRY 42.2 million belonging to the company's existing partner Korozo Ambalaj, and an additional sale of TRY 11.7 million nominal value belonging to Korozo Ambalaj in the event that confirmed demand exceeds the amount of shares offered for sale. It is targeted that 25 percent of Koroplast's shares to be publicly offered will be allocated to domestic high-demand individual investors, 25 percent to domestic individual investors, 40 percent to domestic institutional investors, and 10 percent to foreign institutional investors. Following the public offering, the company's free float ratio is expected to be 38.26 percent excluding the additional sale.

We will go public with the trust we have received from consumers   Koroplast General Manager Bekir Türkoğlu: "We are a leading brand with 100 percent brand awareness in the sector, where we are the creator of the garbage bag category, have set many firsts, and operate with innovative and quality products. Since our establishment, we have increased our profitability with steady growth. While we achieved revenue of TRY 279 million in 2020, we grew by 46 percent in 2021 and reached revenue of TRY 407 million. Using our accumulated knowledge, we prioritize R&D investments to always preserve consumers' 'innovative' attribution to our brand. We constantly improve our products and produce convenient and innovative products with the goal of growing all the categories we serve in. With our applications and systems suited to developing technology, we have annual production capacity of 15,500 tons for garbage bag and storage product manufacturing. With the support of our principal shareholder Korozo, which leads the development of Turkey's flexible packaging sector through its investments and pioneering contributions, is ranked 164th on the list of "Turkey's 500 Largest Industrial Establishments," and is among the largest packaging producers in the Middle East and Europe; we will continue our 40+ years of experience, our corporate governance principles, and our transparency as a publicly listed brand. We will continue to develop ourselves with the trust we have received from our consumers and maintain our leadership with our increasing success." he said.