Koroplast Prepares for IPO

Koroplast Prepares for IPO

Koroplast Temizlik Ambalaj Ürünleri Sanayi ve Dış Ticaret A.Ş. ("Koroplast"), Turkey's most preferred* brand in garbage bags and kitchen helper products, is preparing for its initial public offering. Koroplast, which has applied to the Capital Markets Board for IPO, will conduct this process through Yapı Kredi Yatırım Menkul Değerler A.Ş. ("Yapı Kredi Yatırım").

Going Public with Consumer Trust

Speaking about the application to the CMB for approval of the draft prospectus in the context of the IPO, Koroplast General Manager Bekir Türkoğlu: "We believe that our company, which has a strong financial structure, will further increase its brand value with the IPO process. Our goal is to complete our IPO process in the first half of 2022. With the support of our principal shareholder Korozo, we have begun our efforts to continue our 40 years of experience, corporate governance principles and transparency as a publicly traded brand, and have made the necessary application.

As a leading brand with 100% brand awareness** and the most trusted and most preferred* in Turkey, we operate in our sector with innovative and quality products. As Koroplast, we currently export to 9 countries (Azerbaijan, Cyprus, Romania, Germany, the Netherlands, the United Kingdom). As one of the leading companies in the sector, while we achieved TRY 279 million in revenue in 2020, we closed 2021 with TRY 407 million in revenue, growing by 46%. With the trust we receive from our consumers and with the IPO, we believe our success will continue to grow," he said.

For 40 years since its establishment, Koroplast has shaped all its products and services to meet consumer needs; prioritizing quality, technological capabilities and R&D activities. The company groups its products into 4 main categories: garbage bags, cooking, storage and cleaning products. Operating with production facilities adapted to developing technology and 15,500 tons of extrusion capacity, Koroplast, with its specialized sales and marketing team, serves in 2022 with over 100 product range at 52,000 points through 45 distributors. At the same time, Koroplast also offers garbage bags made from recyclable materials and recyclable again, saying together for an easy, liveable world.

* Most preferred brand in Turkey: Sor Samimi & Ortalana Research

**100% brand awareness: Ipsos Brand Health Research