Türkgücü: Initial public offering burst - which investor will take over?
Created: 2022-01-19Updated: 2022-01-19, 10:11 p.m
By: Nico-Marius Schmitz
Difficult times: President Hasan Kivran and CEO Max Kothny (right).
© Imago
Before the derby against 1860 Munich, Türkgücü can't just concentrate on the sporting side.
Patron Hasan Kivran wants to sell his shares.
However, the relegation battle makes talks with investors more difficult.
Munich – There are many unanswered questions before the derby on Saturday. How does Türkgücü present itself with the new coach Andreas Heraf? Can the lions work their way up the table and at the same time plunge their neighbors even deeper into the relegation battle? But not only the sports world, but also the financial world will follow the duel in the Olympic Stadium closely. In the past few weeks, it has become quiet about Türkgücü*'s major stock market plans.
Between the end of August and October 2021, 666,666 new shares could be subscribed for at a price of EUR 12. Managing Director Max Kothny hoped for a sum of eight million euros, but the goal was not even remotely achieved.
And so the Initial Public Offering (IPO) on the Bavarian Stock Exchange has also been completed for the time being.
“As a result of the IPO, the shares are listed on the stock exchange and can be traded. So there is a daily price determination, with which it is relatively easy to calculate the company value or market capitalization (number of shares x price)," explains Michael Heimrich, Director at TOP Vermögen AG.
According to information from the Munich Merkur, club president Hasan Kivran is ready to sell most of his shares. There were also interested parties in a majority stake in Türkgücü München Fußball GmbH, talks were and will continue to be held. The "Börsen-Zeitung" reported on this first.
But it is not only the sporting misery and the relegation battle that deters new, solvent investors. "At Türkgücü there are many expiring player contracts. For players who only have one year left on their contract, that even accounts for half of the current market value,” says Heimrich. Added to this are the layoffs of coaches. The financial expert therefore thinks that "the money that was raised by subscribing to new shares will probably not initially be used for new infrastructure, but to plug financial gaps." is no longer to be expected in January. First of all, the Munich team have to play their way out of the table cellar so that negotiations with potential investors can be resumed.
The goal of promotion to the 2nd league for the current season has long been ticked off, a relapse to the regional league would be disastrous for the Türkgücü project.
“Türkgücü has enjoyed rapid success in recent years.
If a company has grown quickly and strongly and is planning big steps, for example an IPO, all structures have to grow with it," says Heimrich: "That's obviously not the case with Türkgücü."
By Nico Marius Schmitz
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