Will This Carpet Factory Fly Foreign Investors?
The company is preparing to go public before the end of the year. The initial public offering will be important for SASA and for attracting foreign capital to Türkiye.
Merinos no longer just produces carpets. The company, which has integrated production from yarn to dye, will also produce its own polyester chips starting October 1st with a 270 million dollars investment. While the average EBITDA margin in the sector is 10-12%, Merinos's is 20%.
The acquisition of SASA was financed with Merinos's cash reserves. Now, the funds raised from Merinos's initial public offering are expected to strengthen the group's financial structure and contribute to reducing SASA's leverage ratio.
The most noteworthy aspect is that more than 50% of the allocation will be made to foreign institutional investors. Eleven organizations, four of which are international, have been authorized. This is the first time such a large international initial public offering has been targeted since 2017.
Merinos's overseas orders are approximately 50% higher in terms of square meters compared to August of last year. The company is hiring new workers. With the wars, being a "reliable supplier" is becoming more valuable in global trade, not just price. Erdemoğlu Holding Chairman İbrahim Erdemoğlu says, "Turkey will stand out as a reliable supplier."
Source: Sabah Newspaper
Merinos no longer just produces carpets. The company, which has integrated production from yarn to dye, will also produce its own polyester chips starting October 1st with a 270 million dollars investment. While the average EBITDA margin in the sector is 10-12%, Merinos's is 20%.
The acquisition of SASA was financed with Merinos's cash reserves. Now, the funds raised from Merinos's initial public offering are expected to strengthen the group's financial structure and contribute to reducing SASA's leverage ratio.
The most noteworthy aspect is that more than 50% of the allocation will be made to foreign institutional investors. Eleven organizations, four of which are international, have been authorized. This is the first time such a large international initial public offering has been targeted since 2017.
Merinos's overseas orders are approximately 50% higher in terms of square meters compared to August of last year. The company is hiring new workers. With the wars, being a "reliable supplier" is becoming more valuable in global trade, not just price. Erdemoğlu Holding Chairman İbrahim Erdemoğlu says, "Turkey will stand out as a reliable supplier."
Source: Sabah Newspaper