Years ago, companies that went public and were on the verge of bankruptcy were taken off the stock market, leaving thousands of victims behind. The last part of our series is with you.
Today, many companies that go public cannot obtain loans from banks and They went public to pay their debts. another topic of discussion.
However, when participating in public offerings, It is useful to examine companies. (Where the proceeds of the public offering will be used, commitments made, financial statements, etc.)
Akyürek Pazarlama (AKPAZ), a 50-year-old marketing giant
Akyürek Pazarlama, which started its business activity in a small grocery store in the Viranşehir district of Şanlıurfa in 1964, has become a rapidly growing company. so that to May 2013 when it comes 2.60 TL It was offered to the public with a valuation.
After the IPO 120 million TL It was known that the company, which had reached its market value, was in debt before the offer. obtained from the supply 43 million TL, This was not enough for the company to recover.
2.60 TL Company shares listed on the stock exchange with for 1.40 TL He had fallen that much. The company cannot repay the loans it received, financial crisis entrance. When we look at the company’s financial statements at that time, we know that it had a debt of more than 300 million TL.
Akyürek Pazarlama, who was executed due to his inability to pay his debts to banks, was arrested by the Istanbul Stock Exchange. Towards the childcare market Its marketing was prohibited.
The company, which was in the custody market for 3 years, could not leave the custody market; On the contrary, as his financial problems worsened, delisted from the stock market in 2018 completely removed.
Types of market:
Guard market: The name of this system, first put into operation on December 4, 1996, was later changed to Close Monitoring Market (YIP). According to the Istanbul Stock Exchange press release, in terms of current standards and financial situation Shares of companies that do not meet the necessary conditions It functions like a market in which it participates. The company’s shares listed here can no longer be traded.
Main market: Market value of the share offered to the public during the first listing on the stock exchange This is the market where stocks between 300 million TL and 75 million TL will be traded.
Star Market: This is the market where shares with a market value of more than 300 million TL will be traded, which are offered to the public during the first listing.
Submarket: This is the market where shares with a market value between 75 million and 40 million TL will be traded, which are offered to the public during the first listing on the stock exchange.
Half a century old company: Karakaş Atlantis Kuyumculuk (KRATL)
Founded by the Karakaş family in 1968, the company established its first factory in İzmir and is located in the Aegean region. the largest jewelry wholesaler had attained this position. Karakaş moved to its new factory in Gaziemir in 2005. Atlantis brand It continues to grow by expanding into stores.
By 2011, the Turkish jewelry industry the 5 best companies The company managed to be among the in 2013 per share 2.50 TL was offered to the public.
July 15 coup attempt Subsequently, Kâmil Karakaş, one of the company’s owners, was detained for 10 months on charges of “providing financial support to FETO”. The Savings Deposit Insurance Fund (TMSF) recalled loans from many banks that had extended loans to the company. not transferred. After a while prohibited from trading on the stock exchange The company has also faced numerous complaints from the CMB.
Due to the events that occurred in August 2016, the company’s shares were delisted from the main market by the Istanbul Stock Exchange. Guard markethas (Close Watch Market) has been transferred.
In 2022, the company was officially declared bankrupt following legal proceedings and its factories were liquidated.
Known name in textiles: Arbul Entegre Tekstil (ARBUL)
The company, which began its activities in the textile sector in 2004, carries out fabric dyeing and finishing processes. both in our country and abroad He marketed the product.
In April 2014 per share Public offer with a valuation of 2 TL While the company’s market value is 54 million TL, the size of the public offering is exactly 20 million TL was.
The company, which made KAP (Public Disclosure Platform) statements that did not reflect the truth after its IPO, was banned by the Istanbul Stock Exchange in early 2016. He was warned of being deported.
The company, which rose to prominence with inconsistent PDP information in the two years following the offering, was shut down in 2016 due to the financial problems it encountered. request for bankruptcy postponement Was found. The company on the verge of bankruptcy by court decision appointed trustee, The shares were closed to trading on the stock exchange.
Start the public offering adventure with 2 TL Test of levels 2.57 When ARBUL was on the verge of bankruptcy in 2016 0.40 TL He had reached his lowest levels with .
Previous content in our series:
Bankrupt companies that made a “public offering” in the past and years later reduced people’s money on the stock market – Part 1: BIMEKS
Failed Companies That Lost People’s Money in the Stock Market Years After Their “IPO” – Part 2: RAKS