Having completed the public offering of 27.6% of its shares, Hitit began trading on Borsa Istanbul with the code HTTBT today (March 3, 2022) at 12.25 TL for each nominal share price.
PRESS RELEASE – 03.03.2022 Hitit Bilgisayar Hizmetleri A.Ş., the world's leading aviation technology company, started publicly trading on Borsa Istanbul today. After the Gong Ceremony held at the Borsa Istanbul, the company shares were traded with the code "HTTBT" at a base price of 12.25 TL/share on the premium Bist Stars segment. In the public offering led by ÜNLÜ & Co, Hitit made available 27.6 percent of its shares.
Despite the challenging conditions in the international markets, the company successfully completed its public offering and attracted attention from both national and international corporate and individual investors. With a public offering of 431 million TL, Hitit's total market value has reached 1,562 million TL. The company shares offered to the public were distributed as follows: 40% to domestic individual investors, 35% to domestic corporate, and 25% to foreign institutional investors.
The company, which will make price stabilization transactions through ÜNLÜ & Co for 30 days after the shares begin trading on the Borsa Istanbul, also commits not to increase the paid capital, not to sell shares, and not to increase the amount of shares in circulation for 180 days. The partnership structure of Hitit after the public offering is; 22.8 percent Nur Gökman, 4.7 percent Dilek Ovacık, 4.3 percent Hakan Ünlü, 4.3 percent Özkan Dülger, 36.2 percent Pegasus Air Transport and 27.6 percent public.
Korkmaz Ergun: Technology investments are important for the development of our country
Speaking at the gong ceremony, Borsa İstanbul A.Ş. General Manager Korkmaz Ergun said that Hitit, which provides most of its financial income by exporting technology services, has further strengthened its corporate structure with the public offering. He stated, “The production of software needs of our companies with domestic resources, provides a significant advantage to our country in global competition. For this reason, it is important to increase technology-oriented R&D studies. Now, as stock markets, we are not just financial structures, we are also technology companies. Technology and innovation constitute the most important element of the strategies of exchanges. We continue to develop our BISTECH technology system with domestic resources. We offer investors a faster and more efficient market opportunity. We develop new products in the field of financial technology with our R&D center. Within the scope of the contract we signed with the Abu Dhabi Stock Exchange, and we began providing application and consultancy services in the field of technology. We are also evaluating opportunities for exporting technology services to other exchanges. At Borsa İstanbul, we aim to grow in technology service exports similar to the distinguished technology companies of our country, such as Hitit. Hitit realized a successful public offering with a public offering amount of approximately 431 million TL and sales to 48 thousand investors. I would like to thank everyone who contributed to this successful public offering process, all the company employees, the intermediary institution, and wish good luck to our capital markets. I want to say “Hitit, welcome to our exchange family.”
Nur Gokman: We launched a technology company from Turkey
Hitit’s Chairman of the Board and General Manager, Nur Gökman, stated that they have made an important step with this public offering on the path they set out on, with the dream of launching a technology company in Turkey. She stated, “We believed we would make our dream come true. We believed with our young, brilliant engineers and young minds raised in Turkey, we could make applications whose intellectual rights we own. Our company has been walking this road for 28 years. We are talking about work produced entirely with our intellectual knowledge, it's a very difficult thing to measure. Therefore, we have always needed institutions to use it as a reference.
Turkish Airlines used the loyalty system, our first product and with this, we became the number one loyalty system provider in the world. But this wasn't enough, we wanted to be a company that made all core applications for an airline. We were on this journey, and we continued with Pegasus' trust and visionary developer structure. At the point we have reached today, we attach great importance to going public. It was in the early eighties I was visiting my friends who immigrated to America. They were making good money, but they never kept it under their mattress, instead, they were using it in free markets, both for their future and to keep the institutions of the country alive. With this belief, we have seen the public offering as a very important point for us to be at today. I would like to thank all the investors".
Ibrahim Romano: It is a great success to receive triple the demand despite all the risks
ÜNLÜ & Co Corporate Finance Managing Director İbrahim Romano pointed out that Hitit is one of the national champions of Turkey abroad. He claimed: “With this public offering, we are proud to have provided Hitit with a very important resource in its competition with its rivals abroad and at the same time to bring such a successful company together with investors. As you know, the IPO has coincided with geopolitical troubles and crisis. Despite this, we received a lot of attention from domestic and foreign institutions, and we managed to collect three times the total amount of public offering. We see this as a very important success. I would also like to thank the 35 members of our consortium, with whom we have worked very harmoniously and created very serious synergies, one by one. In the presence of their presidents, I would also like to extend my respects and thank the CMB, Borsa İstanbul, MKK and Takasbank, who have never left us alone and guided us throughout this entire process”.