Hepsiburada, the leading player in Turkey’s fast-growing e-commerce sector, became the first Turkish company to be listed on the Nasdaq stock exchange last Thursday. This is to raise funds that it plans to use for expansion throughout the country and later in neighbouring countries. Hanzade Doğan, founder and president of the first Turkish company on Nasdaq, said that Hepsiburda was valued at $3.9 billion (33 billion TL) at the time of the initial public offering (IPO). Its shares are currently priced at $12.
“I think the company will make even greater progress in the next five to ten years. That’s why I won’t be selling shares in the IPO, and neither will my sisters,” she said.
The company will raise about $470 million net, not including the sale of shares by shareholder Franklin Templeton, which brings the IPO value to about $740 million. The funds will be fully invested in the company’s expansion in the fast-growing Turkish online retail market.
Hepsiburada also aims to expand outside Turkey, although the focus will be on its core market.
“We are not losing sight of the proximity of our local market and our own capabilities, we are subsequently considering the Middle East, North Africa, the Balkans and some Eastern European countries,” Doğan said.
The company’s IPO comes after it more than doubled its turnover as COVID-19 restrictions and relentless orders from stay-at-home households led to strong growth in internet sales.
Its turnover rose from 2.6 billion TL the previous year to 6.4 billion TL ($736 million) last year, an increase of 145%. The company’s turnover is expected to increase more after being the first Turkish company on Nasdaq.
The gross value of goods, a performance indicator for market share, increased by 89% to 17 billion TL last year.
Its market share was about 17% in 2020, more than double what it was in 2015.
This growth has also led to an increase in its employment capacity.
In one year, Hepsiburada.com’s employees have grown from 1,218 to 2,432.
Who is Hepsiburada?
Hepsiburada is a leading Turkish e-commerce website with over 30 million items and a wide range of brands. Discounted prices for shopping at the supermarket from the app.
With Hepsiexpress, market care, food, flowers and water are at the door in less than 30 minutes. What’s more, there is no price difference and no tolls!
What is Nasdaq?
Nasdaq is a leading global electronic marketplace for the purchase and sale of securities. Nasdaq was founded by the National Association of Securities Dealers (NASD), what is now known as the Financial Industry Regulatory Authority (FINRA). Founded 50 years ago in New York, the NASDAQ exchange is home to the world’s largest and most successful technology companies. The Nasdaq market was developed to enable investors to trade securities on a fast, clear, computerized system, and began trading on February 8, 1971. Hepsiburada became the first Turkish company on Nasdaq since its inauguration in 1971.
We wish Hepsiburada, which has 45,000 business partners, 33 million users and more than 9 million active customers, every success in this great adventure.
If you would like to find out why you should invest in Turkey, please visit our website.
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