Izmir-based Turkish steel producer Kardemir Çelik Sanayi A.Ş. has announced that, following the completion of its capacity and efficiency investments, it is preparing to bring its production strength to the capital markets and plans to use most of the proceeds from its initial public offering to reinforce working capital and increase capacity utilization at its existing facilities.
Under the IPO, which will be carried out by a consortium of 48 brokerage firms led by A1 Capital, Vakıf Yatırım and Ziraat Yatırım, shares with a total nominal value of TRY 128 million will be offered at a fixed price of TRY 35.0 per share. Bookbuilding will take place on July 22-24, while the offering is expected to reach TRY 4.48 billion in size, with a free float ratio of 15.42 percent.
Kardemir Çelik board member Özlem Bakırel stated that the decision to go public was not driven by a need to repay debt or finance new investments, but rather by the company's objective of establishing a strong, sustainable and transparent corporate structure that can be passed on to future generations. Bakırel added that around 90 percent of the IPO proceeds would be used to strengthen working capital and support the raw material and operating capital requirements needed for the capacity-expansion investments completed in recent years to operate at full efficiency.
Kardemir Çelik employs more than 1,350 people at seven production facilities in İzmir and Denizli and has a total annual production capacity of 2.5 million mt. Its production infrastructure comprises a steelmaking plant with an annual capacity of 1.2 million mt, wire rod and rebar facilities with a combined capacity of 600,000 mt, and profile production facilities with a total capacity of 700,000 mt.
In 2025, Kardemir Çelik produced approximately 1.8 million mt and increased its revenue by 13 percent year on year to TRY 23 billion. In the first quarter of 2026, the company's revenue rose by eight percent year on year, while exports accounted for 58 percent of total sales. The company, which can manufacture around 10,000 different products, primarily billet, wire rod, rebar and structural and merchant bar profiles, was reported to gain a competitive advantage in cost management, supply security, quality consistency and delivery performance by producing billet, its main raw material, at its own steelmaking plant.
Meanwhile, Kardemir Çelik, which exports to 110 countries, plans to strengthen its presence in Europe, the US, North Africa and emerging markets. The company also aims to expand its value-added product range and increase exports by around 25 percent once its large-size profile facility currently under construction in Bozköy, Aliağa, İzmir, comes on stream.
