Empa Elektronik IPO approved with defence programme ties
The Capital Markets Board (SPK) has given the green light for Empa Elektronik Sanayi ve Ticaret A.Ş.’s initial public offering (IPO). The company has been a provider of electronic parts and technical solutions to Türkiye’s defence and aerospace sector for a long time. Halk Yatırım will be in charge of the offering, and the share price will be TRY 22.
The IPO is a combination of a capital increase and a sale of current shareholders. In order to achieve its goal of increasing its issued capital from TRY 141 million to TRY 170 million, the firm intends to sell an additional 9 million nominal shares to its current shareholders in addition to issuing 29 million nominal shares. There will be a total offering size of about TRY 836 million, which corresponds to a targeted free float of 22.35 percent and a total offering size of 38 million nominal shares (total).
As a technology provider for several Turkish defence programs, Empa Elektronik provides electronic parts and engineering assistance for platforms including the KAAN fifth-generation fighter program, the HÜRJET jet trainer, the HÜRKUŞ aircraft, and the Altay main battle tank. The firm also makes parts for unmanned aircraft systems, precision-guided weapons, and systems that are based on land and sea.
Empa Elektronik is a company that has been in business for 37 years and specialises in the production of electromechanical components, power electronics, embedded systems, and semiconductors. Because current defence platforms are dependent on distributed computing and autonomous subsystems, the company’s engineering efforts are progressively expanding into embedded processing and edge artificial intelligence applications. These are fields that are growing more significant as time goes on.
As a reflection of the dual-use nature of its product portfolio, the firm provides technology to a variety of industries in addition to the aerospace and military industries. These industries include automotive, energy, and industrial electronics.
