ISTANBUL - D-MARKET Electronic Services & Trading, known as Hepsiburada, a prominent Turkish e-commerce platform, announced the receipt of all necessary regulatory approvals for the sale of a 65.4% stake in the company. The approvals, granted as of Monday, pave the way for the completion of the transaction outlined in the stock purchase agreement with Joint Stock Company Kaspi.kz from October 17, 2024.
Hepsiburada, established in 2000, has been a driving force in the digitalization of commerce in Türkiye, offering a range of services to both consumers and merchants, including last-mile delivery, fulfillment, advertising, payment solutions, and support for women entrepreneurs. With annual revenue reaching $1.17 billion and a gross profit margin of 26%, the company has established itself as a significant player in the Broadline Retail industry. For detailed insights into Hepsiburada’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s exclusive research reports. With annual revenue reaching $1.17 billion and a gross profit margin of 26%, the company has established itself as a significant player in the Broadline Retail industry. For detailed insights into Hepsiburada’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s exclusive research reports.
In addition to this development, Hepsiburada’s Board of Directors has called for an Extraordinary General Assembly Meeting of Shareholders to be held on January 31, 2025. The agenda for this meeting includes key items such as the election of board members, amendments to the company’s Articles of Association, and other procedural matters.
The proposed amendments to the Articles of Association involve changes to capital structure, voting rights, and compliance with corporate governance principles. The removal of certain articles related to share transfer and privileged votes is also on the table.
Shareholders of Hepsiburada’s American Depositary Shares are advised to exercise their voting rights through The Bank of New York Mellon (NYSE:BK), the depositary of the company’s ADS program. Detailed information about the assembly meeting and the agenda will be made available on the company’s investor relations website on the date of the meeting.
This announcement includes forward-looking statements subject to risks, uncertainties, and other factors that may cause actual results to differ from expectations. Investors and stakeholders are cautioned not to place undue reliance on these statements.
Hepsiburada, established in 2000, has been a driving force in the digitalization of commerce in Türkiye, offering a range of services to both consumers and merchants, including last-mile delivery, fulfillment, advertising, payment solutions, and support for women entrepreneurs.
The information for this article is based on a press release statement from Hepsiburada.
In other recent news, D-Market Electronic Services & Trading, also known as Hepsiburada, has announced its Q3 financial results for 2024, revealing crucial information on its revenue, expenses, and net income. Analysts have predicted strong Q3 results, forecasting a Gross Merchandise Volume (GMV) growth between 70% and 75% year-on-year, and an EBITDA margin of approximately 2.2% of GMV. In addition, the company’s subsidiary, Hepsi Finansman A.Ş., issued bonds with a principal amount of TRY 250 million to support the expansion of its consumer finance business. Further, Hepsiburada raised TRY 350 million through its second asset-backed securities issuance, aimed at bolstering its Buy Now, Pay Later business segment. A significant corporate shift is on the horizon as Kazakhstan-based Joint Stock Company Kaspi.kz is set to acquire all outstanding Class A and Class B shares of the company. These are recent developments in Hepsiburada’s operations.
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