Altınay Defence IPO and Ownership (ALTNY): Price, Results and Capital Structure, Explained
Altınay Defence Technologies (Altınay Savunma Teknolojileri A.Ş.) is a Turkish defence and aerospace company specialised in motion control systems, unmanned systems and critical sub-systems. Its shares trade on Borsa İstanbul under the ticker ALTNY. This article explains the company’s initial public offering, ownership structure, capital and voting distribution, and its current financial picture, based on official and publicly available sources.
When Did Altınay Defence Go Public, and at What Price?
Altınay Defence completed its IPO under a prospectus approved by Türkiye’s Capital Markets Board (SPK) and listed on Borsa İstanbul. According to publicly available sources, the offering took place in May 2024 at a fixed price of TRY 32 per share, with a total size of roughly TRY 1.8 billion. The prospectus made the articles of association, an independent legal report, historical financial statements, a PwC sector report, a valuation report and a use-of-proceeds report available to investors.
| IPO at a Glance | |
|---|---|
| Company | Altınay Defence Technologies (Altınay Savunma Teknolojileri A.Ş.) |
| Ticker | ALTNY (Borsa İstanbul) |
| IPO period | May 2024 (public source) |
| Offer price | TRY 32 per share (public source) |
| IPO size | ≈ TRY 1.8 billion (public source) |
| Paid-in / issued capital | TRY 1,000,000,000 |
| Authorised capital ceiling | TRY 1,000,000,000 |
Ownership Structure and Capital Distribution
According to the company’s official ownership disclosure, paid-in capital is TRY 1,000,000,000. The only individual holding a direct stake of 5% or more is founder Hakan Altınay, who owns 60.01% of the capital; the remaining 39.99% consists of the free float and other shareholders.
Why Capital Stake and Voting Rights Differ
A notable feature is the gap between capital ownership and voting power. While Hakan Altınay holds 60.01% of the capital, he controls 79.15% of the voting rights; the free float and other shares carry 20.85%. This privileged-share structure means the founder retains management control after the IPO, so strategic decisions remain founder-led — a key point for investors assessing governance.
Financial Picture: 2024–2025
The company kept growing after the IPO. Publicly available sources put nine-month 2024 revenue at about TRY 1.1 billion with net profit near TRY 212.5 million. Based on results shared by the company, 2025 annual revenue exceeded TRY 3.1 billion, driven by a new high-tech production facility, expanded motion-control capacity and demand for critical sub-systems on defence platforms.
| Key Financial and Operational Data | |
|---|---|
| 2024 (9M) revenue | ≈ TRY 1.1 billion (public source) |
| 2024 (9M) net profit | ≈ TRY 212.5 million (public source) |
| 2025 annual revenue | exceeded TRY 3.1 billion |
| Employees | 300+ (mostly engineers) |
| Manufacturing footprint | over 40,000 m² |
| Headquarters | Teknopark İstanbul, Kurtköy / İstanbul |
Note: the 2024 nine-month figures rely on public secondary sources; for exact, comparable data refer to the audited financial statements published on KAP. Figures are nominal and period-specific.
Frequently Asked Questions
What is Altınay Defence’s stock ticker?
Altınay Defence Technologies trades on Borsa İstanbul under the ticker ALTNY.
When did Altınay Defence go public?
According to public sources the company completed its SPK-approved IPO in May 2024 and listed on Borsa İstanbul.
What was the IPO price?
Public sources state a fixed offer price of TRY 32 per share and a total size of roughly TRY 1.8 billion.
Who owns Altınay Defence?
Founder Hakan Altınay is the largest shareholder with 60.01% of the capital and 79.15% of the voting rights; the rest is publicly held.
What is the company’s revenue?
Based on results shared by the company, 2025 annual revenue exceeded TRY 3.1 billion.
Sources
- Altınay Defence Technologies — Ownership Structure (altinaysavunma.com/en/investor-relations)
- Altınay Defence — Public Offering information and SPK-approved prospectus
- Altınay Defence — Financial information and activity reports
- Borsa İstanbul / KAP — ALTNY material disclosures
