CW Enerji Public Offering

The public offering of 20.20 percent of the solar panel manufacturer CW Enerji will be held between 26-28 April by ‘capital increase and partner sales’ method.

According to the statement made by CW Enerji, the public offering price of the company was determined as 108.60 liras. Under the leadership of Deniz Yatırım and QNB Finansinvest, the company's issued capital will increase from 105 million liras to 123 million 750 thousand liras in the public offering to be carried out by capital increase and partner sales method. Shares with a nominal value of 18 million 750 thousand liras to be increased will be offered to the public. After the public offering, 20.20 per cent of CW Enerji's capital will start to be traded on Borsa Istanbul (BIST). If the additional sales right of 5 million liras is used in the public offering, the public float will be 24.24 per cent.

While the size of the public offering is expected to be approximately 3.3 billion liras with the additional sale, 2 billion liras of revenue from the capital increase will be used for investment and modernisation expenditures, especially strengthening the working capital, licensed or unlicensed GES power plant purchases, and roof and land GES power plants for the company's own consumption.

Only individual investors and domestic institutional investors can be partners in the public offering. Equal distribution method will be applied to individual investors. Domestic institutional investors can apply to Deniz Yatırım and QNB Finansinvest for their requests.

- ‘We care about the interest of investors with high environmental awareness’

Speaking at the press conference where details about the public offering were shared, Tarık Sarvan, Chairman of the Board of Directors of CW Enerji, said that the sun, which is a natural, renewable and unlimited energy source, has a critical importance for the future of the world.

Pointing out the importance of the potential of the sun as a sustainable and clean energy source, Sarvan said, ‘Based on this, we especially care about the interest of investors with high environmental awareness and taking responsibility for the future of our planet. As CW Enerji, we have accomplished very important works in Türkiye in 13 years. We are opening our doors to investors with whom we will grow together in the coming years and who will do useful works for the future of our planet with us. Our efforts to leave a more livable world for future generations will gain more meaning with the support of our investors who will be our partners.

Stating that CW Enerji increased its total annual turnover by 374.4 per cent last year to approximately 4 billion 758 million liras and its net profit reached 904 million liras as of the same period, Sarvan said:

'CW Enerji has done very good business in Türkiye since its establishment in 2010. We have reached an annual peak solar panel production capacity of 1800 megawatts in our facility in Antalya Organised Industrial Zone, which has a closed area of 28 thousand 230 square meters, built on a total area of 44 thousand 734 square meters. In addition, our old production facility with a closed area of 6 thousand 747 square meters in Antalya Organised Industrial Zone 3rd Section, which was used as a warehouse, was restored and turned into an Eva production facility. In AOSB 1st Zone, we have taken a new place with an area of 19 thousand 966 square metres right next to our central facility and created a production and storage area for Lithium Battery energy storage systems as of 2023. In addition to all these, we also have a production and storage area with an area of 2 thousand 492 square metres in Antalya Free Zone. We will significantly reduce our imported input costs by starting the production of EVA, which is an important raw material in the production of solar panels and which we have to import because it has not been produced in Türkiye until today. In short, we have a strong structure in terms of both technology and cash flow. However, institutionalisation is one of the most important conditions to be strong in global competition. In this sense, our main goal is to institutionalise and become an accountable and transparent company through a public offering. We also aim to develop in export markets in addition to the priority we have given to domestic demand so far.'