The well-established brand in the construction and ready-mixed concrete sector, Albayrak Beton, has submitted its application to the Capital Markets Board (CMB) following its decision to go public. In a brief statement on the matter, Erdal Albayrak, the Chairman of Albayrak Beton, said, “Our goal is to institutionalize our company, extend its lifespan, and ensure its sustainability. At the same time, we wanted to make the public a shareholder in our company.”
Albayrak Beton, a reliable and innovative brand in the construction and ready-mixed concrete industry, made the decision to go public after 40 years of accumulated experience and expertise. Already one of the most important ready-mixed concrete producers in Turkey and also a developer of high-quality real estate projects, Albayrak Beton submitted its public offering application to the Capital Markets Board (CBM) as of October.
Along with the CBM application, Albayrak Beton has also applied to Borsa İstanbul (BIST) for the shares to be traded on the stock exchange following the public offering. The shares are planned to be offered to the public through a capital increase and secondary sales. Erdal Albayrak, the Chairman of Albayrak Beton, made a brief statement regarding the public offering process, saying, “Our primary goal in this public offering is to institutionalize our company, extend its lifespan, and ensure its sustainability. On the other hand, we wanted to make the public a partner in our company. The best partner is the public. We prefer to get financial support from the public. This way, we will make money and invest, and the public will also profit from this. The public offering process of our company will be managed by Tacirler Investment Securities Inc.”
Albayrak Beton, whose main activity has been the production of ready-mixed concrete, started its real estate development in 2008 and has been continuously involved in the construction sector since then. According to the data from the Revenue Administration (GİB), Albayrak Beton ranks 15th among 1,020 companies across Turkey and is the concrete supplier for many major brands and metro projects on the Anatolian side of Istanbul. To date, Albayrak Beton has made 411 people homeowners across six projects and has already begun construction on four new projects in the real estate sector.