Penta Announced Its Post-IPO Plans

Penta announced its post-IPO plans. Penta stated that it will focus on supplier financing.

Penta Teknoloji General Manager Mürsel Özçelik was a guest to Bloomberg HT about the public offering of the company that collected demand on May 6-7 and answered questions. Özçelik informed that there has been a demand for Penta Teknoloji in the price range of 32.00-38.00 TL. Özçelik stated that 60 percent of them will be sold equally to local individuals, and that 30 percent will be domestic corporate and 10 percent will be foreign corporate. Özçelik provided the following information on the company's pre-public offering financial statement: "Our company is making a dollar balance sheet. It reduced its debt by 30 percent within 3 years and reduced it to 66 million dollars. So there is an improvement in debt of more than $ 30 million. At the same time, it increased its EBITDA by 18 percent in 2 years to 33 million dollars. Our gross profitability is around 7.5 percent. EBITDA profitability was 5.6 percent last year, well above the sector average. The company's pre-tax profit corresponds to 86 million lira." After the public offering, Özçelik said in a statement regarding company-wide planning: "As we go public through capital increase, it shows that our financial expenses will decrease in the coming years. While projecting the coming years, this will not be a one-time expense. Our future plans will be to focus more on supplier financing with strong capital, and to reach net profitability in EBITDA profitability, since our financial expenses will decrease by approximately 70 percent and we will produce 70-75 percent of our working capital with equities after the public offering."