A bell-ringing ceremony was held for Şişecam on Borsa Istanbul (the Istanbul Stock Exchange). The company recently completed the largest merger ever registered in the Turkish capital markets.

Procedures related to the merger by acquisition of the main subsidiaries of Türkiye Şişe ve Cam Fabrikaları A.Ş.—Anadolu Cam Sanayii A.Ş., Denizli Cam Sanayii ve Ticaret A.Ş., Paşabahçe Cam Sanayii ve Ticaret A.Ş., Soda Sanayii A.Ş. and Trakya Cam Sanayii A.Ş.—were completed on September 30, 2020 pursuant to the relevant legal and regulatory provisions.

Şişecam vice chairman and CEO Ahmet Kırman delivered a statement after the bell-ringing ceremony.

“Şişecam has already broken new ground in Turkey and worldwide in line with its vision of being a pioneer in its business lines. We are now recording another major success with this merger. We have completed the largest merger of the Turkish capital markets with exemplary success. Şişecam has become the industrial enterprise with the highest free float rate in Turkey—49%,” he said. “We would like to thank our shareholders for their overwhelming support during this merger process, which can rarely be seen internationally. We also extend thanks to our employees who made this success possible with their valuable contributions. In addition, our gratitude goes out to our customers and business partners for their trust and loyalty to Şişecam. Encouraged by our stakeholders, we plan to take even faster steps in the future to achieve our ambitious global goals.”

Kırman stated that Şişecam simplified its legal entity and shareholding structure and consolidated all its activities under one roof to enhance its global competitive position.  “Currently, our only company trading on Borsa Istanbul is Şişecam. A single share with an increased free float ratio and transaction depth, now more attractive to investors, is traded on the stock exchange. We are also highly pleased that Şişecam is included in the MSCI Global Standard Index on October 1, 2020 and starts to be traded on the stock exchange as of October 5, 2020,” he added. “We expect that Şişecam will be part of other major indices in the period ahead. We also firmly believe that Şişecam will attract significant attention from international funds and investors and create higher share value.”

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