Years ago, companies that went public and were on the verge of bankruptcy were removed from the stock market, leaving thousands of victims behind. The last part of our series is with you.
Today, many companies that go public cannot get loans from banks and They went public to pay their debts. another topic of discussion.
However, when participating in public offerings, It is useful to examine companies. (Where the public offering proceeds will be used, commitments made, financial statements, etc.)
Akyürek Pazarlama (AKPAZ), a 50-year-old marketing giant
Akyürek Pazarlama, which started its business life in a small grocery store in Viranşehir district of Şanlıurfa in 1964, has become a rapidly growing company. so that to May 2013 when it comes 2.60 TL It was offered to the public with a valuation.
After the IPO 120 million TL It was known that the company, which reached its market value, was in debt before the offering. obtained from the supply 43 million TL, It was not enough for the company to recover.
2.60 TL Shares of the company that went public with for 1.40 TL It had fallen as much. The company cannot pay the loans it received, financial crisis entry. When we look at the financial statements of the company at that time, it is known that it had a debt exceeding 300 million TL.
Akyürek Pazarlama, which was sent to execution due to its inability to pay its debts to banks, was taken into custody by Borsa Istanbul. To the Custodial Market It was banned from being traded.
The company, which was in the Custody Market for 3 years, could not leave the Custody Market; On the contrary, as the financial problems he experienced worsened, delisted from the stock exchange in 2018 completely removed.
Market Types:
Custody Market: The name of this system, which was first put into operation on December 4, 1996, was later changed to Close Monitoring Market (YIP). According to the statement in Borsa Istanbul, in terms of current standards and financial situation Shares of companies that do not meet the necessary conditions It operates as a market in which it takes part. The company shares listed here cannot continue to be traded.
Main Market: Market value of the part offered to the public at the first listing on the stock exchange This is the market where shares between 300 million TL and 75 million TL will be traded.
Star Market: It is the market where shares with a market value of more than 300 million TL, which are offered to the public at the first listing, will be traded.
Sub Market: It is the market where shares with a market value of between 75 million TL and 40 million TL, which are offered to the public at the first listing on the stock exchange, will be traded.
Half a century old company: Karakaş Atlantis Kuyumculuk (KRATL)
Founded by the Karakaş Family in 1968, the company established its first factory in Izmir and is located in the Aegean Region. largest jewelery wholesaler had risen to the position. Karakaş moved to its new factory in Gaziemir in 2005. Atlantis brand It continued to grow by expanding into stores.
By 2011, the Turkish jewelery industry top 5 companies The company managed to be among the in 2013 per share 2.50 TL was offered to the public.
July 15 coup attempt Afterwards, Kâmil Karakaş, one of the company owners, was detained for 10 months on the allegation of “providing financial support to FETO”. Savings Deposit Insurance Fund (TMSF) recalled the loans of many banks that had extended loans to the company that was not transferred. After a while banned from trading on the stock exchange The company also faced numerous CMB complaints.
Due to the events that took place in August 2016, the company’s shares were delisted from the Main Market by Borsa Istanbul. Custodial Marketto (Close Watch Market) was transferred.
By 2022, the company was officially declared bankrupt as a result of court proceedings and its factories were liquidated.
Known name in textile: Arbul Entegre Tekstil (ARBUL)
The company, which started its activities in the textile sector in 2004, carries out fabric dyeing and finishing processes. both to our country and abroad He was marketing the product.
In April 2014 per share Public offering with a valuation of 2 TL While the market value of the company is 54 million TL, the size of the public offering is exactly 20 million TL was.
The company, which made KAP (Public Disclosure Platform) statements that did not reflect the truth after its public offering, was banned by Borsa Istanbul at the beginning of 2016. He was warned to be expelled.
The company, which came to the fore with inconsistent PDP disclosures in the 2-year period after the offering, was closed in 2016 due to the financial problems it experienced. request for bankruptcy postponement was found. The company on the verge of bankruptcy by court decision trustee appointed, Shares were closed to trading on the stock exchange.
Starting the public offering adventure with 2 TL Testing 2.57 levels When ARBUL was on the verge of bankruptcy in 2016 0.40 TL It had reached its lowest levels with .
Previous contents of our series:
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