Işık Plastik Draws Investor Demand in IPO

IŞIK PLASTIK IPO DRAWS DEMAND FROM ONE IN FIVE BORSA İSTANBUL INVESTORS Işık Plastik, which exports products to nearly 60 countries worldwide, completed its demand collection period with participation from 401,153 natural and legal persons. The public offering received demand from nearly one in five investors at Borsa İstanbul who hold equity securities with balances exceeding 2 million. Unfiltered demand totaling TRY 160,411,855 in nominal value, equivalent to 14.2 times the offering size, was collected. In the public offering conducted on Borsa İstanbul's Primary Market under the "Fixed Price Demand Collection and Sale" method led by Garanti BBVA Yatırım, all 11,286,293 TRY nominal value Işık Plastik shares worth TRY 181,709,317 were sold. The institution's stock exchange code was set as ISKPL. Işık Plastik, which has over 30 years of industry experience, conducted its demand collection period on 21-22 January 2021 for the public offering on Borsa İstanbul's Primary Market through the Fixed Price Demand Collection and Sale method. Led by Garanti BBVA Yatırım, the public offering was widely distributed across a broad base, with participation from 401,153 investors representing nearly one in five investors holding equity securities at Borsa İstanbul. According to an announcement made through the Public Disclosure Platform (KAP), unfiltered demand of TRY 160,411,855 in nominal value was collected in the offering, and all Işık Plastik shares worth TRY 181,709,317 with a nominal value of TRY 11,286,293 were sold. In the Işık Plastik offering, shares with a nominal value of TRY 11,284,801 were distributed to a total of 401,100 natural and legal persons, while shares with a nominal value of TRY 1,492 were sold to 53 investors comprising investment trusts, funds and others. As the first public offering realized in 2021 and a process that received strong demand from individual investors, the shares for which the demand collection price was set at TRY 16.10 received demand of 14.2 times. Işık Plastik, with stock exchange code ISKPL, will have a public float ratio of 21.8 percent following the offering.

"We are very grateful to our investors…"

Expressing that they are very pleased with the interest Işık Plastik received during the demand collection period, Işık Plastik Board Vice Chairman and General Manager Abdullah Çeker stated that they will use the revenue obtained for financing growth. Çeker said, "Since we began production in 2000, we have been shaping Turkey's industrial plastic sheet and thermoformed food packaging sectors. Our brand, which has managed to secure an important place in the global market, increases its market share every year. We continue to grow rapidly with our factory operating in three shifts with 280 employees. As Işık Plastik, we are realizing 2021's first public offering. We have completed a demand collection period widely distributed across a broad base with participation from 401,153 investors. We thank the investors who trusted us and became our partners in this process. With them, we will meet where exports grow at the speed of light," he said. Çeker said, "Our company is growth-focused. The reason we are conducting an important portion of this public offering through capital increase is to continue growing through investments and become a significant player globally. In this respect, the strong interest shown to our institution made us very happy. We have joined a large family that will support us in the steps we plan to take for the future. I thank everyone who contributed to this successful public offering process, especially the respected executives and employees of Işık Plastik and Garanti BBVA Yatırım, the Capital Markets Board and Borsa İstanbul who provided guidance and support, and our business partners Akol Avukatlık Ortaklığı, EY (Ernst & Young) and TimePR," he said.

"We will primarily use the proceeds to finance growth…"

Addressing the use of funds to be obtained from the public offering, Çeker said, "We plan to primarily use the revenue we will obtain following the public offering to finance growth. In this regard, we will use 35 to 50 percent of the proceeds for meeting working capital needs, 15 to 30 percent for capital expenditures, and the remaining 25 to 40 percent for repayment of credit debts." Explaining that they currently operate with factories named Işık 1 with a total plot area of 22,689 m² and a closed area of 14,807 m², Çeker also drew attention to ongoing new factory investments. Çeker said, "With this investment, we will increase our current closed area of 14,807 m² by 11,871 m², bringing the total closed area of our facilities to 26,678 m². We aim to complete the ongoing construction by the end of March. Currently, approximately 75 percent is complete. We plan to begin production in August 2021. At this facility, we will implement domestically imported scratch-resistant sheet and mirror sheet investments, bringing local production to life. Additionally, following the public offering, we plan to make an anti-fog sheet coating line investment at the Işık 1 factory. We anticipate a total investment of TRY 13.6 million for the mirror sheet, scratch-resistant sheet, and anti-fog sheet coating lines," he said.