Escar Has Applied for Public Offering

Escar has applied for public offering. The fleet leasing company Escar submitted its application to the CMB.

The fleet leasing company Escar applied to the Capital Markets Board (CMB) for an IPO. Continuing to work for the public offering of approximately 20 percent of the company's shares, Escar stated that it aims to develop its fleet of 70 percent of the revenue to be obtained from the public offering, depending on the growth targets of the company, and to strengthen the working capital by paying the remaining part of the financial debts. According to the statement made by Escar regarding the issue, the company completed the year 2020 with 317.1 million TL revenue and 78.3 million TL net profit. The company's revenue in the previous year was 301.2 million TL and its net profit was recorded as 26.5 million TL. It is known that Escar, which offers only long-term car rental service, has a fleet of 4,300 vehicles and 210 corporate customers.