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Cates Elektrik Uretim AS

Cates Elektrik Uretim AS (Ticker: CATES TI) is a Turkish company specializing in electricity generation, notably operating the Çatalağzı Thermal Coal Power Plant in Zonguldak, Turkey. The plant has a total installed capacity of approximately 314 MW and an annual production capacity of about 2,286 GWh, making it a significant contributor to Turkey's electricity supply. The plant has come into focus in 2020 when it was shut down for not meeting air pollution targets. The plant has since been made compliant and restarted operation but continues to raise environmental concerns.

Cates Elektrik Uretim AS will list on December 7, 2023, on the Istanbul Stock Exchange. The firm is offering 33.05 million shares at a price of TRY 57.15 each. In USD terms, the offer price is USD 1.9762 per share. The total offer size is TRY 1.89 billion (USD 65.31 million). The offering details, including underwriters and offer managers, are currently unspecified.

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