25 percent of Merinos Carpet, one of Erdemoğlu Holding's companies, will be offered to the public around mid-next year. İbrahim Erdemoğlu, Chairman of the Board of Directors of Erdemoğlu Holding, who made statements regarding the subject, said they plan to sell 50 percent of the shares to foreign investors. Expressing that all of the shares they will sell will be the ones belonging to Erdemoğlu Holding, Erdemoğlu said, "The public offering transactions will be carried out domestically by Vakıf Investment and İş Investment. Abroad, HSCB and JP Morgan will act as intermediaries. We plan to complete the PO transaction in May 2025. Half of the income to be obtained will be added to the capital and the other half will be transferred to the holding as a resource. The amount to be added to the capital will be used for investments and loan payments."

90 Percent of Turnover Comes from Abroad

Explaining that Merinos Carpet will close the year 2024 with a turnover of 530 million dollars and that approximately 480 million dollars of that figure will consist of export revenues, Erdemoğlu provided the following information about the company's investments and production: "The total cost of the investments made and ongoing in 2024 is approximately 275 million dollars. The investment cost of MTR polyester chips, which will be in operation in the second half of 2025, is approximately 220 million dollars. With this investment, we will reach an annual production capacity of 350 thousand tons. The total value of our company was around 2 billion dollars. Presently, we produce in three different locations, two in Gaziantep and one in Çerkezköy. Underlining that they export the carpets they produce with 4,700 employees to 80 countries in addition to selling them domestically, İbrahim Erdemoğlu said, "We dispatch 42% of our sales to Europe and the UK, 38% to the US, 12% to the Middle East and Africa, and 8% to the domestic market. Our factories are operating at 85% capacity.

Source of News: Yeni Şafak News