Below is our bulletin regarding the statements made by Mr. Süleyman Çetinsaya, Chairman of our Board of Directors. Please find our bulletin regarding the statements made by Süleyman Çetinsaya in the Bloomberg HT Market Line program on 27.02.2024 below.
About Public Offering Results and Price Stabilization;
The public offering of the Company's shares was completed by a consortium led by Ak Yatırım Menkul Değerler A.Ş. on December 13-14-15, 2023.
The price per share in the public offering was determined as TL 55.08 and all 100,000,000 shares offered to the public were sold.
The size of the public offering was realized as TL 5,508,000,000 and the free float was realized as 25%.
The distribution in the public offering was realized as 78.63% domestic individual investors, 1.37% group employees and 20% domestic institutional investors.
Our Company's shares have been traded on Borsa Istanbul Stars Market since 21.12.2023.
After the public offering of our Company's shares, price stabilization transactions were carried out for 15 days by using the funds obtained from the sale of Group C shares with a total nominal value of TL 15,000,000 belonging to Artaş İnşaat Sanayi ve Ticaret A.Ş. through Ak Yatırım Menkul Değerler A.Ş., and 16,535,000 shares were purchased at an average price of TL 49.89.
About the Investments Realized in the Period after the Public Offering;
Our Company has realized new investments within the framework of its sustainable growth strategy with the funds obtained from the public offering and continues to evaluate investment alternatives that will contribute to continuous growth and efficiency.
In our disclosure text, we had committed to use 80% of the net proceeds from the public offering to finance the purchase of land for housing construction throughout Turkey, especially in Istanbul, the investment of shops and shopping malls with commercial quality rental income, leasable commercial units and tourism investments, especially hotels and tourism buildings that can be rented. In this context, Swissôtel Resort Bodrum Beach and other investment properties with rental income were purchased between 05.01.2024-26.01.2024 for a total amount of TL 2,521,155,000.00 excluding VAT as disclosed to the public.
20% of the net proceeds from the public offering is used to finance our Şişli Residence project, which is currently under construction.
About the Existing Portfolio;
Our portfolio includes 2 completed residential projects with approximately 450 independent units ready for sale, 3 shopping malls, 1 hotel, 2 residences and offices and shops with rental income in various regions of Istanbul. In addition to these, our Feza Park Villas (9 villas) in Büyükçekmece, Istanbul and Şişli Residence Projects in Şişli, Istanbul are ongoing.
About Share Performance;
There is no doubt that share performance does not reflect our Company value. The portfolio value alone is over TL 24 billion as of today.
We see that our Company, which has no financial burden and is committed to dividend distribution in its articles of association as it is regulated all over the world and as it should be, does not reflect its real value in the market.
It would be appropriate to interpret the movement in the price as an equalization of the decline in the first week due to the unfavorable market conditions in the week of trading.
It should be noted here that the transactions realized on the Stock Exchange are carried out under the supervision of the Stock Exchange and the Capital Markets Board within the framework of the relevant regulations independent of our Company.
About Dividend;
As stated in our Articles of Association, we will distribute at least 50% of our distributable profit every year.
As for the calendar, we plan to announce our financial statements at the beginning of March and make our general assembly call and profit distribution proposal immediately afterwards.
In 2024, we aim to increase our rental income with the commercial real estates that we have added and will add to our portfolio in accordance with the mission of our company.
About Developments Related to Artaş Holding;As Artaş Holding, we aim to deliver 6 projects in 2024 and complete a total of 821,000 m2 of construction.