Balsu Gıda, a global hazelnut industry company that has risen to prominence by supplying some of the world’s largest confectionery, chocolate, and food manufacturers, is set to go public. The initial public offering (IPO) is scheduled to take place on February 12, 13, and 14, 2025, with the trading code “BALSU” under the “Fixed Price Demand Collection” method. Led by Ziraat Yatırım and İnfo Yatırım, the IPO is expected to increase the company’s public ownership to 25%.
Ahmet Bilge Anbarlılar, the CEO of Balsu Gıda, views the IPO as a strategic step towards the company’s institutionalization. “The IPO will also enable us to realize investment opportunities that will add value to our company, further strengthening our global position. In 2025, we will make investments in increasing capacity domestically, including the production of activated carbon from hazelnut shells. We also aim to establish a hazelnut cracking and processing facility in Chile,” he stated.
Ranked as Turkey’s 218th largest industrial company according to the 2023 production to sales data of the Istanbul Chamber of Industry, Balsu Gıda is going public. The IPO, which will take place on February 12, 13, and 14, 2025, under the “Fixed Price Demand Collection” method, has set the selling price per share at 17.57 TL. Participation in the IPO will be possible with the code “BALSU”.
A total of 278 million TL worth of shares will be offered for sale, with 112 million TL worth of shares through capital increase and 166 million TL worth of shares through public offering. Following the IPO, the company’s capital will increase from 1 billion TL to 1 billion 112 million TL. It is anticipated that the company’s shares will be listed on the Borsa Istanbul (BİST) Star Market.
While the public ownership ratio is expected to be 25%, the IPO aims for a total offering size of 4 billion 884 million 460 thousand TL. Forty percent of the IPO proceeds will be allocated to ongoing domestic and international investments, 30% to strengthen working capital, and 30% to reinforce equity and increase profitability.
Ahmet Bilge Anbarlılar, the CEO of Balsu Gıda, emphasized the strategic significance of the IPO for the company’s institutionalization and the realization of its value. “At Balsu Gıda, we sell hazelnuts in shell and processed forms to the chocolate, confectionery, and food industries in domestic and international markets. We also supply multinational chocolate manufacturers and food producers who use hazelnut products as semi-finished goods, positioning us as a global hazelnut industry company. Our largest export market is Western Europe, where we generated $122.5 million in export revenue in the first nine months of last year. We prioritize the sale of processed products to ensure added value remains within the country. The resources we will obtain from the IPO will not only add value to our company but also allow us to realize investment opportunities, further strengthening our global position,” he explained.
Expert Insights on Balsu Gıda’s IPO
Experts in the financial industry have noted the strategic timing and potential of Balsu Gıda’s IPO. Ayşe Yılmaz, a senior financial analyst at a leading investment firm, stated, “Balsu Gıda’s decision to go public comes at a time when the food industry is experiencing significant growth and demand for hazelnut products is on the rise globally. The IPO presents a unique opportunity for the company to access additional capital for expansion and innovation, enhancing its competitive edge in the market.”
Impact of Balsu Gıda’s IPO on the Market
The news of Balsu Gıda’s IPO has already sparked interest among investors and industry stakeholders. Market analysts predict that the company’s public offering will not only attract attention from local investors but also international players looking to capitalize on the growth potential of the hazelnut industry. The IPO is expected to have a positive impact on the overall market sentiment and contribute to the development of the food sector in Turkey.
