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Enerjisa Goes Public

The shares of Enerjisa Enerji A.Ş. which is the leading company of Turkey on electricity distribution and retail will be taken public. Under the leadership of Ak Investment, the book building dates for Enerjisa initial public offering are set for February 1-2, 2018 and the price range is TL 6.25-7.50.

Enerjisa Enerji, being one of the leading energy companies in Turkey with equal shares of E.ON and Sabancı Holding, will be taken public. Within the scope of initial public offering (IPO), Hacı Ömer Sabancı Holding A.Ş and E.ON will offer 18% shares of Enerjisa through joint sales. In case of over-allotment, the percentage will be 20%. There will be 22 intermediary institutions in the IPO, in which Ak Investment will be the consortium leader. The book holding dates are set as February 1-2, 2018.

The IPO Briefing Meeting was held at Sabancı Center with the participation of Enerjisa Chairman Mehmet Göçmen, Enerjisa Vice Chairman Keith Plowman, Enerjisa CEO Kıvanç Zaimler and Ak Investment General Manager Mert Erdoğmuş.

Largest IPO From Sabancı

Enerjisa Chairman Mehmet Göçmen stated that they are proud of holding the largest IPO of Sabancı. In his consideration of the IPO, Göçmen said, "We, as Sabancı of the new generation, trust Turkey and the markets. With our foreign partner E.ON, we trust in our industry and believe in the future of Enerjisa as well."

Göçmen said "As Sabancı Holding, we are running in an additional one to the successful IPOs that we have held in different industries. We are proud of Sabancı Holding's largest IPO of Enerjisa. We believe that the real value of Enerjisa, which has always been the leader in the industry and has taken the most courageous and pioneering steps, is revealed with this IPO"and added: " Enerjisa is a story of Turkey. Enerjisa is a company that witnessed the energy markets that have a critical importance within the process of privatization and liberalization that started in the 1980s and accelerated in the 2000s. And Enerjisa IPO is the story of our strong view about Turkey and the energy industry. "

Göçmen stated "Depending on its young population structure, high urbanization dynamism and electrification, Turkey has high potential in the electricity industry. In this sense, the energy industry has the potential and should attract investments."

Göçmen noted that Enerjisa is the leading company to provide this growth in the strongest way, and that Enerjisa IPO will the first public offering in the field of distribution. Göçmen said "We find the national and domestic energy policy of the MENR and the establishment of a strong regulatory system with EMRA very worthwhile for sustainability and the reliability of the industry."

We believe in Turkey and the markets

Enerjisa Vice Chairman Keith Plowman regarded Enerjisa’s IPO as a solid and significant step for Turkish electricity industry to access extensive financial resources.

Reminding that they are in the fifth year of their partnership with Sabancı, Plowman said that, as E.ON, they believe in Turkey and the potential of electricity industry. Stating that they regard their partnership in Enerjisa as a part of their main business, Plowman continued: "Turkey with its expanding economy, growing electricity demand, rapid urbanization and young dynamic population, has a huge potential. The high growth potential in the electricity industry offers significant opportunities for investors. In spite of the challenges recorded in the industry over the last few years, the successful cooperation of public and regulatory authorities establish a solid base for the healthy growth of the industry. This is very pleasing. We are ready to take the responsibility to share our learnings from European markets to help this supportive and efficient structure grow further."

We lead the industry through our investments and our high quality service mentality

Enerjisa CEO Kıvanç Zaimler who said "We work with all our energy to create a better energy future for Turkey." added that while doing this, they act with the target to deliver the best service to 20 million users. Zaimler, who noted that as Enerjisa, they continue with their investments without any interruption, said "We believe this is as important for Enerjisa as it is a very important step for the institutional development and financial sustainability of energy markets. We believe that the industrial transparency and trust factor will increase further. A significant portion of our shares will be sold to foreign institutional investors. This way, we will contribute to further deepening of our capital market. We will conduce toward introducing foreign investors to our industry. We are working to create value for our country and for the industry. We act with world-class service mentality and offer new products and services. We invest 1.5 billion TL every year in grid development and infrastructure tasks. Because our people deserve the best. We place human in the center of our operations, and believe that the most important thing that makes our investments meaningful is human."

One out of every four people in Turkey receives electricity from Enerjisa

Pointing out that they provide electricity distribution service to more than 20 million users in 14 provinces within Başkent, Ayedaş and Toroslar regions, Zaimler said " That is to say, one out of every four people in Turkey are receiving electricity from Enerjisa. We are the largest and the leading player of our industry with 26 percent market shares in distribution and 22 percent in retail sales. Our main goal with our 10 thousand employees is to create value for our partners, our customers, our employees, our suppliers and the community and we provide energy to the lives of our customers we serve.

Zaimler, said: "Energy stands at every moment of our lives: our producing country and the growing industry requires everlasting energy. As Enerjisa, we are the everlasting energy. Because we have a great power behind us. We will work with all our energy for even better, today and tomorrow, as we did yesterday. We will continue to move our industry forward, and to be the energy of Turkey.

Book building will be held within TL 6,25 - 7,50 range

Mert Erdoğmuş, the General Manager of Ak Investment which will lead the Enerjisa IPO, stated that they are proud to be leading the consortium of such a large IPO. Erdoğmuş said: "The consortium established for public offering covers a total of 23 institutions under Ak Investment leadership. The Enerjisa IPO, which is one of the largest and most attractive public offerings of this year, has been determined to have 85 % allocation for foreign corporate investors, 10% for local institutional investors and 5% for local individual investors. Enerjisa has a business model based on a significant growth potential due to the intensive investment need in its business line. This well-designed business model and best-in-class corporate governance practices increase the company's appeal for investors. Enerjisa will become the largest electricity company taken public in recent years with this market value and the IPO will be realized by selling equal shares of E.ON and Sabancı Holding through joint sales method. The book building dates for Enerjisa IPO are set as February 1-2, 2018 with an IPO price range of TL 6,25 - 7,50 and the market value of the company will between TL 7,4 billion and TL 8,85 billion. The total portion of shares to be offered to the public will be 18 percent, and in case of high demand, the IPO portion will be increased to 20 percent by making an over-allotment of 1 percent + 1 percent of IPO size.