Nearly 600,000 investors participated in Quick Sigorta's initial public offering (IPO), who subscribed for 58.57m shares, 1.21 times the 48.31m shares offered.
The IPO, held from 29 to 31 July, raised TRY3.7bn ($77.84m) as the shares, with a nominal value of TRY1, were priced at TRY76.60 each.
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. The 48.31m new shares represent 10.03% of the enlarged capital of Quick Sigorta.
In the IPO, 589,692 investors subscribed for the shares, but the total number of investors who received shares was 582,507.
Domestic individual investors received 28.99m shares, representing 60% of the shares offered in the public offering. The number of investors in this group who benefited from the distribution was 582,468. Domestic institutional investors were allocated 19.32m shares, representing 40% of the initial public offering, with 39 investors receiving shares in this group.
Demand from domestic individual investors was approximately 1.31 times the planned allocation, while demand from domestic institutional investors was 1.07 times the planned allocation.
A separate statement was released regarding investors who purchased more than 5% of the shares offered in the IPO. Corpus Sigorta purchased shares with a nominal value of TRY15.04m in the public offering. This corresponds to 31.13% of the total number of shares offered. Quick Sigorta and Corpus Sigorta are part of the Maher Holding group.
The new shares will begin trading on 6 August 2026. This is 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.