Hitit, one of the leading global providers of airline and travel technology solutions, successfully concluded its Initial Public Offering (IPO) after gathering pre-orders from investors between February 23-25. Despite the challenging recent developments in Europe, Hitit generated a total demand worth 1,562 million TL whereafter 27.6% of Hitit's shares became public as of March 3.
With an initial price of TL 12.25 per share, 20% of Hitit's shares on offer were allocated to domestic individual investors; 20% to domestic high demand investors; 35% to domestic institutional investors; and 25% to international institutional investors.
Nur Gokman, CEO at Hitit, said: "We are delighted to have successfully accomplished our IPO process, despite the recent developments affecting financial markets. I would like to thank each of our investors for their support. We have crossed a critical threshold, which began with the dream of establishing a strong aviation technology company in Turkey. Hitit is now poised to reach even greater heights. We will use most of the proceeds from the public offering to develop new products and expand into new markets. With the strength we get from our investors, we will reinforce our position as a global technology provider." Source: https://hitit.com/news-updates/hitit-completed-its-ipo-process-successfully