Home / Knowledge / News / Textiles / Southern Turkey's textile firm plans for IPO
Southern Turkey's textile firm plans for IPO
Nov '10
As revealed by Abud Abdo, Chief Executive Officer of Hateks, a textile firm owned by three families and located in a southern territory of Hatay, the firm is considering an Initial Public Offering (IPO) for a five million Turkish Lira.

The firm possesses a huge facility on Syrian border of Turkey, while a new facility is underway in neighbouring country's Aleppo province. The CEO, while addressing a press meet at company's Hatay based facility recently, stated that, the company has already submitted the final draft of its application for IPO to the Istanbul Stock Exchange and the Capital Markets Board, or SPK.

The firm supplies textile items to 20 international labels including Benetton, Armani, Diesel, Ikea, Tchibo and Marks & Spencer.

A part of the IPO funding would be used for the betterment of the firm's facility in Aleppo, and to boost its Sensei brand, based in France, Abdo said, and added that, some of the funds would even be diverted towards settlement of the short-term debts.

The firm intends to boost its competitive strength against textile firms in China, through its Aleppo facility, as the area enjoys the benefit of low costs, Abdo said.

Hateks registered a turnover of 62 million liras in 2009, while it largely exported $40 million worth goods to Europe during the year.

Further, the firm also recorded a 10 percent hike in its earnings till now against the corresponding period last year. It is also eyeing a turnover of 100 million liras by the end of the current year.

Fibre2fashion News Desk-India

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

Vietnam’s textile & garment exports earn $4bn in Jan-Feb

Vietnam earned $4 billion from textile and garment exports in the...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

C Kamatchisundaram

ITME is an occasion not only to receive new leads but also to work on...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search