Astor Holding Raises $235M Through Strategic Stake Sale in Astor Enerji
Astor Holding has completed the sale of a 9.02% stake in its subsidiary Astor Enerji, raising over $235 million in one of the largest-ever block trades on Borsa Istanbul.
The deal involved 90 million shares sold at ₺109 ($2.64) each, drawing total demand exceeding $1 billion, more than four times the offer size. Approximately $915 million came from international institutional investors, with an additional $140 million from domestic buyers.
Olcay Dogan, Deputy General Manager and CFO of Astor Enerji, said the oversubscription reflected strong confidence in both the company and Türkiye's capital markets. "This interest highlights the success of our long-term strategy and our commitment to continued growth in local and global markets," he stated.
Founded in 1983, Astor Enerji manufactures power transformers, switchgear, and compact substations from its 105,000 sqm facility in Ankara. The company exports to over 90 countries, including across Europe, the Middle East, and Central Asia.
Earlier this year, Astor revealed plans to establish its first overseas factories in Spain and the United States to address global supply shortages in energy transition infrastructure.
Source: turkiyetoday.com
