Naturel Energy Co. became Turkey's first solar energy company to go public on Monday with a value of around 70 million Turkish liras.
The launch of the company's initial public offering (IPO) at Turkey's Borsa Istanbul AS on Monday garnered much interest from around 600 investors.
The value of the IPO stood at around 70 million Turkish liras with the sale of 12 million shares.
Following the IPO, the value of the company's assets rose to 332 million liras, and will invest 75% of its IPO revenues in solar energy projects.
Yusuf Sen, chairman of Naturel Energy, said at the launch ceremony that the company would accelerate its investments in the solar energy sector.
General Manager of Naturel Energy, Cem Gocmen, relayed that the company has 19 solar projects in the Ankara region, and investments would triple in the short term, with a focus on purchasing ongoing projects.
By Nuran Erkul Kaya