Companies embrace IPOs but investors turn more cautious
Gamze Bal-ISTANBUL
The enthusiasm of companies seeking alternative financing through initial public offerings (IPOs) continues to grow, with firms awaiting approval from Türkiye’s Capital Markets Board (SPK) gradually making their way onto the stock exchange.
While 18 companies went public in the whole of 2025, 29 firms were listed in the first seven months of this year alone. However, investor response and IPO returns have weakened compared with previous years.
Companies, driven by high borrowing costs, have accelerated their search for alternative sources of financing. In the first seven months of the year, the number of IPOs exceeded the total recorded in 2025. The 18 companies that went public last year raised a combined 45 billion Turkish Liras, while the 29 firms listed through the end of July this year raised 66.7 billion liras. July alone accounted for 61 percent of those IPOs.
