Turkish Defence Company Altınay Enters the Stock Market

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Turkish Defence Company Altınay Enters the Stock Market
Altınay Defence Technologies Inc. decided to increase its capital for new investments, strengthening working capital and opening up to global markets.

A new one is coming among the Turkish Defence companies listed on the Stock Exchange. After ASELSAN, Otokar, Karel, Katmerciler, and SDT companies, Altınay Defence Technologies will also be listed on the stock exchange. The company's application documents to the stock exchange were published on the website.

According to the application made to the Capital Markets Board, 58 million 823 thousand 530 shares resulting from the capital increase and share sales of partners will be offered to the public.

Altınay Defence Technologies, founded in 2014 as part of the Altınay Technology Group, has been providing products and solutions in the fields of Motion Control Systems, Unmanned Systems, Marine Systems, Weapon Systems, Ammunition Destruction, and Production Systems to various stakeholders in the government, private sector, and international markets. The company also undertakes the execution of multiple projects. The company has ongoing subcontractor agreements with leading companies in the Turkish Defence industry, such as ASELSAN, Turkish Aerospace (TUSAŞ) and Roketsan.

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Altınay Defence Technologies works currently on unmanned air and ground vehicles, ALTAY tank, FIRTINA howitzer, Turkish Fighter jet KAAN, HÜRJET, GÖKBEY helicopter, ATAK-2 helicopter, ANKA-S, AKSUNGUR, HİSAR Air Defence systems, NAZAR Laser Attack System, F16 SADAK-4T Smart Quad Rack. 

After deducting the public offering costs, 50 per cent of the remaining funds from the share sale will be used for new facility and production technology investments.

Fifteen per cent of the resource will be allocated to testing and verification technologies and R&D and P&D investments, and 15 per cent will be assigned to strengthening working capital.

Ten per cent will be used for company acquisitions and/or establishment of business partnerships, 5 per cent for global sales and marketing network investments, and 5 per cent for financial debt payments.

Altınay Defence Technologies offers main and subsystem level solutions for land, sea and air platforms to domestic and foreign users with its 162 employees, the majority of whom are engineers, and its subsidiaries DASAL Aviation Technologies and TAAC Aviation Technologies.

TAAC Aerospace Technologies (TAAC) was established in July 2019 as a joint venture between TUSAŞ and ALTINAY Defence Technologies Inc. The company aims to develop critical indigenous Motion and Flight Control Systems, Landing Gear Systems, and Test Systems following aviation standards.

DASAL Aerospace Technologies is a subsidiary of ALTINAY Defence and ASELSAN. DASAL has been developing single- and multi-rotor unmanned aerial vehicles (UAVs) since 2019, catering to the needs of Turkish defence and security units and various stakeholders in the public and private sectors and international markets. 

According to the documents presented to the Capital Markets Board, Altınay will invest in the Ankara Aerospace Industry Zone (HAB), Engineering Centre of Excellence in İstanbul, and Production and Integration Centre of Excellence in Kocaeli. It will invest in addictive production technologies, Composite production, actuator valve technologies, and technologies for power transmission systems.

Altınay will invest in Iron Bird for heavy-class UAVs. 

 

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