Izmir-based Turkish steel producer Kardemir Çelik Sanayi A.Ş. has completed its initial public offering process and began trading on the Borsa Istanbul Stars Market under the ticker KARCL as of July 31, 2026.
As previously reported by SteelOrbis, demand for the company's shares was collected on July 22-24, 2026 by a consortium led by A1 Capital, Vakıf Yatırım, and Ziraat Yatırım.
Ergun: IPO proceeds to be used for investments
Korkmaz Ergun, general manager of Borsa Istanbul, stated that Kardemir Çelik is among the leading companies in the metals industry thanks to its high production capacity, internationally compliant production quality, and export-oriented growth.
Mr. Ergun said that the company would use the proceeds from the IPO for raw material procurement and facility investments and wished the offering success in the capital markets.
Karalp: We will accelerate our growth
Tevfik Önder Karalp, chairman of Kardemir Çelik, stated that the company has implemented significant investments in recent years to increase production capacity, strengthen its technological infrastructure, and improve competitiveness.
Mr. Karalp said that in the coming period the company aims to accelerate growth, improve efficiency, and create greater value, while moving further up the rankings among Turkey's largest industrial companies.
He added that the company will continue increasing its presence in international markets and developing new partnerships, with the goal of making the Kardemir Çelik brand a stronger global player.
IPO receives demand four times the offering size
Mr. Karalp stated that the IPO attracted strong investor interest, with total demand exceeding the size of the offering by more than four times.
He added that 814,853 new investors became shareholders following the IPO and said that the company would respond to this confidence through increased production, transparency, and sustainable growth.
