Kervan Gıda Started to be Traded on the Stock Market

Kervan Gıda Started to be Traded on the Stock Market Kervan Gıda started to be traded on the stock market. The company's stock made a 10 percent premium in the first part of the session. Kervan Gıda shares started to be traded in Borsa Istanbul with the gong ceremony. Kervan Gıda, the 7th public offering of 2020, earned 466 million lira from the public offering. Shortly after the company's shares began to be traded, they made a 10 percent premium and peaked. Speaking to Bloomberg HT, Burhan Başar, General Manager of Kervan Gıda, evaluated the results of the public offering and the plans for the period following the public offering.   "Demand Has Been Much More Than Our Expectations" "Demand has been much more than our expectations. With the demand from 268 thousand investors we reached a record in Turkey. We are a company engaged in export to 85 countries. We have our own companies in US, UK, Germany, and in Russia. Therefore we are a brand that is known abroad. Norwegian investment Fund was not participating the IPO for a long time. Our IPO was attended with a range of 7.7 percent. We are also very pleased to bring such a foreign investment to Turkey. Apart from that, 34.2 times demand came from individual investors. "   “We Expect Last Quarter To Be Stronger “ "We are in the 8th place in the world soft candy market. We aim to be 5th in line with the targets of 2023. Our biggest market is Europe. We are planning to make a purchase in Europe with 55% of the income from the IPO. Our negotiations in this process have accelerated with the public offering. We plan to continue our investments in our own factories, especially in Akhisar, with a 25 percent part. We plan to strengthen our financial structure with a 20 percent resource. We are currently experiencing a capacity problem. We have two lines to be completed by January 2021. Thus, we aim to increase capacity. We have a 57 percent exporter structure. We are having difficulty meeting the demands right now. We expect the last quarter to be stronger due to the increasing exchange rate. "     Source: Bloomberg HT