Masfen Enerji lists on Borsa Istanbul as IPO demand tops TRY 19.3B

Renewable energy company Masfen Enerji AŞ began trading on Borsa Istanbul under the ticker MASFN on July 30, following its initial public offering. Shares started trading after a gong ceremony attended by founding partners Mehmet Songur and Kemal Onur Karakuş, Borsa Istanbul General Manager Korkmaz Ergun, and Deniz Yatırım General Manager Hüseyin Melih Akosman.

Total demand for the offering exceeded TRY 19.3 billion — roughly five times the size of the offering — despite a busy IPO calendar, according to Akosman.

Masfen Enerji operates across the energy production chain, from installing solar plants to running them. It plans to use IPO proceeds to fund new solar and wind power plants and energy storage facilities, expanding its electricity generation portfolio.

The company runs facilities across 10 provinces in Türkiye, Greece, and Romania, with a total generation capacity of 117 megawatts. It has installed and refurbished more than 611MW of solar plants to date.

Masfen Enerji is continuing investments in Romania, including energy-storage projects due to become operational in 2027. It also holds a secondary portfolio of 837MW across solar, wind, and storage projects in Türkiye and abroad.

The listing lands as renewable energy and storage gain weight in Türkiye's push to expand domestic generation and speed its energy transition. Akosman called the strong demand "an important indicator of confidence" in both the company and Türkiye's capital markets.