Smart Solar Technologies Have Received 9.5 Times the Demand for Public Offering

ISTANBUL - Smart Solar Technologies, leading technology brand in Turkey in the fields of installation of solar energy systems and production of photovoltaic (PV) solar modules, successfully completed its public offering. The total size of the public offering of Smart Solar Technologies that was held under the leadership of QNB Finansinvest and TSKB Consortium on March 16-17-18 was realized as 534.713,621 TRY. The public offering was made with the fixed price book-building method. The shares of the Company offered to the public are expected to be started to be traded in Borsa Istanbul on Thursday, March 24, with the price of "14 TRY" and the code "SMRTG".

HIGH DEMAND FROM THE INVESTORS

In the public offering that was made by using the proportional distribution method, we received demand from a total of 101,755 investors for the shares with nominal value of 303.741,440 TRY, which is equal to 9.5 times the shares with nominal value of 31.840,000 TRY, excluding additional sales.

In the public offering, the demand was approximately 4 times the shares allocated to Individual Investors, approximately 18 times the shares allocated to the Investors with High Amount and approximately 4 times the shares allocated to the Domestic Corporate Investors, excluding the additional sales.

While the capital of the Company was increased from 127,5 million TRY to 153 million TRY after the public offering, the shares corresponding to 24,97 percent of the total capital were offered to the public at the end of the book-building process.

HALİL DEMİRDAĞ: “WE WILL MAINTAIN OUR STRONG GROWTH”

Halil Demirdağ, co-founder and Chairman of the Board of Directors of Smart Solar Technologies, has said: “I am very pleased with the success of the public offering process. This success demonstrates the confidence of the investors in the future and performance of Smart Solar Technologies. As Smart Solar Technologies, we will continue to ensure profitable and strong growth based on the strength and motivation of the high demand we received from the investors in the public offering process.”

PAMİR KARAGÖZ: “WE ARE VERY PROUD TO OFFER SMART SOLAR TECHNOLOGIES TO INVESTORS”

Pamir Karagöz, General Manager of QNB Finansinvest which acted as an intermediary for the public offering process as the co-leader of the consortium, has said: “We, as the co-leader of the consortium, are very happy and proud of acting as an intermediary and successfully completing the public offering process for Smart Solar Technologies, which is a key player operating as a producer of solar energy panels in a globally shining sector. I would like to express my gratitude to Halil Demirdağ, founding partner and Chairman of the Board of Directors of Smart Solar Technologies, for the great attention and support to us during this successful public offering process.

In the public offering process, we received 9.5 times the demand for the offered shares with nominal value of 31 million 840 thousand TRY from a total of over 101 thousand investors, and the size of the demand was realized as 4,25 billion TRY. With the public offering of 38,2 million TRY nominal shares along with the additional sale, the size of the public offering was realized as 535 million TRY.

As we, QNB Finansinvest, had implemented it for the first time last year, individual investors were assessed in 2 separate allocation groups based on the categories of Individual Investors and Investors With High Amount according to the number of shares that they demand. In the Individual Investors category, 92,450 investors demanded 4.14 times the allocation. We received more than 18 times the allocation from a total of 9,105 investors in the category of Investors With High Amount. As a result of receiving 4 times the demand from the corporate investors, the public offering process was completed with a demand of total 9.5 times, with the interest of over 100 thousand investors.

As QNB Finansinvest, we are excited to bring together Smart Solar Technologies and investors. I wish that this public offering will be very benefical for our country, capital markets, Smart Solar Technologies and the investors.” she said.