Keen Foreign Interest in Doğtaş Kelebek Mobilya

Foreign investors showed great interest in the shares issued by Doğtaş Kelebek Mobilya in the BIST Wholesale transactions market. Indeed, 89 percent of total demand came from foreign corporate investors, which is an indication of the confidence in the potential of Turkey, the industry, and Doğtaş Kelebek, according to Doğtaş Kelebek CEO Ersin Serbes.

Doğtaş Kelebek Mobilya Sanayi ve Ticaret A.Ş put up the shares corresponding to 42.11 percent of its capital for sale on the BIST Wholesale market last week. The shares of Doğtaş Kelebek generated high demand from foreign corporate investors. Commenting on the share sale, Doğtaş Kelebek CEO Ersin Serbes said that it was an important indication of the confidence in the potential of Turkey, the furniture industry, and Doğtaş Kelebek to see that 89 percent of demand stemmed from foreign investors. Serbes also stated that long-term corporate investors showed great interest in Doğtaş Kelebek, and said "We are proud to see that the world's leading investors such as Goldman Sachs are investing in our country and company. I hope that this will benefit our company, industry, and country well."

"Partnership with Turkven is an important breakthrough"

Pointing out that the partnership with Turkven since 2012 has led to a significant breakthrough for Doğtaş, Serbes said: We first acquired Kelebek. A corporate management style boosted the influence and authority of professional managers. An effective board of directors was formed with the participation of two independent members. We tripled our turnover. Our profitability increased at the same rate. Also, the number of our stores doubled, which made us stronger as the second largest player of our industry. We invested in the factory and the system. We came together as a team, and we are doing good things."

Underlining that Doğtaş Kelebek continues its investments, Serbes said: "We continue to invest in our company and brands. We will improve the concept of corporate management in our company even more in the coming period. I can say that our strong management team will maintain our accelerated pace of growth.We will do our best not to let down our investors."

Stating that the shares of Doğan Family did not change after the share sale, Serbes said: "The funds for which Turkven provides consultancy still have some shares, and the family members continue their duties on the Board of Directors."