Clairfield advises IT services company Obase on its IPO

As an information technology solution provider, software development company and a system integrator, Obase is experienced in analytical solutions and scientific retail solutions.

It is one of the top 20 local software producers in Turkey and top data warehousing and business intelligence company. Based in Washington DC and Istanbul, Obase helps national and international businesses with over 200 highly talented team members, serving various sectors including retail, telecommunications, airlines, logistics, finance, insurance, and pharma, both with its well-established products and with new technological solutions continuously developed in-house in its R&D center of high-quality engineers.

Obase successfully closed its initial public offering of 14,000,000 shares at a public offering price of TL 10.50 per share.

The deal is a landmark transaction for the Turkish market, representing the most subscribed IPO, not only in 2022 but also for the last twelve months, by reaching 305,665 investors and oversubscription by 3.78x.

The shares of common stock began trading on the Istanbul Stock Exchange on August 3, 2022, under the ticker symbol “OBASE.E”.