Clairfield is pleased to announce the IPO of our client Odine on BIST Star of the Istanbul Stock Exchange, Türkiye’s premier securities exchange. The Clairfield team in Turkey provided advisory on the listing.

About Odine

Odine is a fast growing, end-to-end SaaS/PaaS and global communication solution partner that provides network software solutions and engineering services for telecom operators worldwide. Odine provides value-added advice on the transition of legacy networks to cloud-centric virtualized infrastructures and contributes to the 5G/6G ecosystem.

Founded in 2000, Odine has approximately 100 highly talented team members operating from regional offices in Istanbul, Prague, and Dubai. The company serves over 150 clients in more than 40 countries thanks to its expert team, in-house software development capabilities, continuous R&D activities in collaboration with prominent universities, and prestigious reference projects.

Odine recently announced that its Telco Cloud Project with Turkcell was shortlisted for the Best Cloud Solution at the GLOMO Awards 2024, recognising innovative contributions in cloud services. The company also received the Cloud and Edge Computing Innovative Award and placed in Capacity Media’s Top 20 Telco Vendors power list in 2023. Odine was recognised as one of Türkiye’s 50 fastest-growing technology companies by Deloitte in both 2020 and 2021.

About the transaction

A substantial portion of the proceeds from the IPO will be allocated to support the company’s international growth objectives. The remaining funds will be designated for operational capital and to completing innovative projects integrating advanced technologies including artificial intelligence, data analytics, and sustainable solutions, tailored to meet the evolving demands of customers and the industry at large.

Odine successfully closed its initial public offering of 44,200,000 shares at a public offering price of 30.00 TL per share. The IPO garnered significant attention with the participation of 3,259,363 investors, reflecting an oversubscribed demand equivalent to 6.13 times the shares offered to the public.

The shares of common stock began trading on the Istanbul Stock Exchange on 21 March 2024, under the ticker symbol ODINE.