Article

In 2025, eighteen companies raised TRY 44 billion ($1 billion) through initial public offerings on Borsa Istanbul, a decrease from previous years' totals. A total of 120-130 companies remain in the IPO queue, with no offerings occurring between March and September due to monetary tightening and political uncertainties. The last IPO of the year was by renewable energy producer Arf Bio Yenilenebilir Enerji, which sold a 26% stake for TRY 917 million ($21 million) on December 27.