Bankrupt Companies That Lose People’s Money in the Stock Exchange

Especially in recent months the center of attention of almost everyone In our stock market, where there are more investors than the population of some countries due to the great impact of public offerings, there are many companies that went public in the past and went bankrupt years later. This being the case, which The importance of our investment in the company becomes even more important.

Although there is less opportunity to invest money in public offerings today than in the past, some people Since it invested a significant amount after the public offering Therefore, examining companies with solid balance sheets and Checking their balance sheets every 3 months We must not forget that it is important.

Istanbul Stock ExchangeAccording to the report of (ISE), in the public offering frenzy between 2010 and 2014, 17 of 117 companies went bankrupt. Even though more than 10 years have passed, the rest The returns of 36 of 98 companies were well below inflation.

We start the first part of our content series by explaining the establishment and preparation process for public offering of Bimeks, Turkey’s first technology retailer, which many of us have heard of and perhaps shopped in the past years.

Capital Markets Board (CMB) chairman Vedat Akgiray and his older brother Murat Akgiray Bimeks was founded in 1989 in a small shop in Kadıköy Mühürdar. Turkey’s first technology retailer and was selling products such as consumer electronics, white goods and small household appliances.

Prof. Dr. Vedat Akgiray, Appointed as CMB Chairman on March 13, 2009If on March 4, 2009, that is, one week before his appointment His shares in BIMEKS He handed it over to his brother Mehmet Murat Akgiray. After becoming the Chairman of the Capital Markets Board (CMB), he became the Chairman of Bimeks. started its public offering campaign.

Former CMB President Prof. Dr. The public offering trend initiated by Vedat Akgiray not on the stock market today Ataç İnşaat, Ran Logistics, Mango Gıda Companies like these also participated. In addition, Vedat Akgiray, in the history of capital markets The only person who was dismissed by law before completing his 5-year term. It went down in history as.

Bimeks went public in April 2011 with a valuation of 4.5 TL.

In April 2011 With a market value of 270 million lira The public offering size of Bimeks is approximately It was 85 million lira. 22.5 million lira of the public offering revenues were made by the owners selling 5 million shares. directly into the bosses’ pockets had entered.

in 2011 Public offering at 4.5 lira Market value of Bimeks, 4 months after going public It fell below 150 million. Bimeks, which continued to grow in 2013 and acquired the Turkish operations of Electro World and Darty, became Turkey’s leading company in 2015. top 100 companies was among them.

in 2017 justification for the financial crisis first started to evacuate many of its stores, and then began to close down hundreds of stores. dismissed the worker without compensation. While all these developments were taking place, the company Share value was gradually falling. So much so that the share value of Bimeks, which went public with 4.5 TL, It dropped to 0.4 lira in August 2017 and was delisted from the stock market.

in 2018 95 million TL debt securities Things did not go as expected for Bimeks, which tried to regain its footing with the company, and the company continued to shrink further and officially went bankrupt. In March 2019, Bimeks It was announced that it was officially removed from Borsa Istanbul.. in the same year by declaring concordat The company, which officially announced its bankruptcy, disappeared into history, leaving thousands of investors victimized.

Today, there are still people whose grievances are not resolved and latest at the end of 2020 Prof. BIMEKS workers, a faculty member at Boğaziçi University. Dr. Let us also point out that he came to the agenda again by taking action for Vedat Akgiray.

Bankrupt Companies That Had a “Public Offering” in the Past and Reduced People’s Money in the Stock Exchange Years Later – Part 2See you in .