The Capital Markets Board of Turkiye (CMB) has approved the prospectus of digital insurance company Quick Sigorta, which is carrying out an initial public offering (IPO), according to a bulletin published by the regulator.
The IPO does not involve a sale of shares by existing shareholders but is being carried out through the issuance of new shares in a capital increase.
According to the CMB, under the IPO, Quick Sigorta's nominal issued capital will be increased by TRY48,312,950 ($1.02m) to TRY481,612,950 from the current level of TRY433,300,000. Each new share, with a nominal value of TRY1, will be offered at a price of TRY76.60. Accordingly, the IPO is expected to raise around TRY3,700,772,000 ($78.17m). These proceeds are to be used to support the insurer’s capital position, support its sustainable growth, and increase its long-term value creation capacity.
The new shares will represent 10.03% of the enlarged capital of Quick Sigorta. They will begin trading on 6 August 2026, following a subscription period that will last from 29 to 31 July. Both domestic individual and domestic institutional investors will be able to participate in the public offering.
This will be the first time in 12 years that an insurance company is going public. Quick Sigorta will be the seventh insurance company to be listed on the stock exchange.
Quick Sigorta, founded in 2017, offers products such as compulsory motor third-party liability insurance, fire Insurance, and personal accident insurance, etc (except life). The insurer is wholly owned by Maher Holding, a Turkish investment holding company based in Istanbul.