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Turkish Astor Holding has completed the sale of a 9.02% stake in Astor Enerji, the conglomerate's power equipment manufacturing subsidiary, for more than $235 million in a transaction that drew strong demand exceeding $1 billion, marking one of the largest block trades in the history of Borsa Istanbul.
According to a statement filed with the Public Disclosure Platform (KAP), the transaction was completed on Thursday and covered 90 million shares for ₺109 ($2.64) per share.
The company reported that approximately $915 million of orders came from international institutional investors, while around $140 million originated from domestic buyers. This strong participation meant that total demand was more than four times the size of the actual deal.
Astor Enerji’s Deputy General Manager and Chief Financial Officer Olcay Dogan said the strong demand showed the confidence of both international and domestic investors in the company and Türkiye’s capital markets.
"Such strong interest reflects the solid steps we have taken so far and the recognition of our long-term strategy," he noted, adding that the company aims to sustain growth in both domestic and foreign markets through innovative projects and a resilient financial structure.
Founded in 1983, Astor Enerji specializes in transformers, switchgear, and compact substations, operating a large production facility with 105,000 square meters of indoor space. It exports its products to more than 90 countries across Europe, the Middle East, North Africa, Central Asia, and the Caucasus.
In December, the company unveiled plans to establish its first overseas factories in Spain and the United States, aiming to address the global shortage of equipment vital to the energy transition.
Astor Enerji’s shares are publicly traded on Borsa Istanbul under the ticker “ASTOR,” with the majority owned by the owners of Astor Holding.
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