The Turkey SDG Investor Map, launched at the Policy Dialogue Event at the Bosphorus Summit in March 2021 in partnership with the Government of Turkey through the Presidency of the Republic of Turkey Investment Office, established health care as one of nine priority sectors where development needs intersect with policy priorities. Among the 27 identified Investment Opportunity Areas (IOAs) – responding to the needs through practical business models with comprehensive data – is the production of local biotechnological medicine.

We are pleased to note that the impactful investment opportunity is being successfully realised through Gen Ilac, a Turkish pharmaceutical company, which on 28-30 July 2021 collected bids by investors for an initial public offering (IPO). The demand has been 6.7 times the public offering size of the shares with a nominal value of 7.3 million USD (62.5 million TRY), with the total public offering size reaching 86.5 million USD (738 million TRY). Led by the OYAK Investment consortium, the IPO was carried out with a fixed-price bid collection and off-exchange sales method. As a result of the public offering, 35% of the shares were distributed to domestic individual investors, 1% to company employees, 38% to domestic institutional investors and 25% to foreign institutional investors. 7.3% of the shares were allocated to Norges Bank Investment Management under Norway’s Government Pension Fund Global.

This successful IPO exemplifies the key interest in sustainable development opportunities in Turkey, and validates the approach and the findings of the Turkey SDG Investor Map. Please read more about the realised opportunity in English and in Turkish, and explore further opportunities on the Turkey Country Page on the SDG Investor Platform.