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ISTANBUL - D-MARKET Electronic Services & Trading, also known as Hepsiburada (NASDAQ: HEPS), a prominent e-commerce platform in Turkey, has completed the third bond issuance through its subsidiary, Hepsi Finansman A.Ş. (Hepsifinans). The transaction, which was finalized on Monday, involved the sale of bonds to domestic qualified investors, with an aggregate principal amount of TRY 100 million and a six-month maturity period.
The bonds, bearing an annual interest rate of 43.00%, are scheduled to be repaid at maturity along with the accrued coupon. This issuance is part of a larger program approved by the Capital Markets Board on September 11, 2024, which allows Hepsifinans to issue bonds or bills up to a total of TRY 1,050,000,000 in one or more tranches within a year.
Hepsifinans aims to use the proceeds from the bond issuance to support the sustainable growth of its consumer finance business. This move is in line with the company’s broader strategy to expand its financial services offerings and enhance shopping convenience for consumers, while also driving higher sales conversions for merchants. With annual revenue reaching $1.17 billion and strong free cash flow of $133.69 million, the company shows promising operational metrics. For deeper insights into Hepsiburada’s financial health and growth potential, investors can access comprehensive analysis through InvestingPro, which offers exclusive financial metrics and expert research reports.
The press release also includes forward-looking statements regarding the company’s plans and expectations. These statements are based on current management expectations and are subject to various risks and uncertainties that could cause actual results to differ materially. Factors that may influence the outcome include market conditions, economic trends, and regulatory changes, among others.
Hepsiburada, established in 2000, has been a key player in the digitalization of commerce in Turkey. The company’s hybrid model combines direct sales and a third-party marketplace, providing a wide range of services to both consumers and merchants. Its integrated fintech platform, Hepsipay, offers secure payment solutions and has been instrumental in enhancing the e-commerce experience. Trading at $2.80 per share, InvestingPro analysis indicates the stock may be undervalued, with additional ProTips and detailed valuation metrics available to subscribers.
The information in this article is based on a press release statement from D-MARKET Electronic Services & Trading.
In other recent news, Hepsiburada, officially known as D-Market Electronic Services & Trading, has completed significant governance changes following an Extraordinary General Assembly Meeting. The company elected six new board members and appointed three independent members, reducing the board’s total size from eleven to nine. Additionally, Hepsiburada has received all necessary regulatory approvals for the sale of a 65.4% stake to Joint Stock Company Kaspi.kz, marking a major development in its corporate structure. The approval came from several Turkish regulatory bodies, including the Competition Board and the Central Bank of the Republic of Türkiye.
Meanwhile, Hepsiburada has also filed a Form 6-K with the SEC, reaffirming its compliance with U.S. regulations for foreign private issuers. This filing included a press release, signed by CEO Nilhan Gökçetekin and CFO M. Seçkin Köseoğlu, providing updates on the company’s business affairs. Furthermore, Hepsiburada has announced an upcoming extraordinary general assembly of shareholders scheduled for January 31, 2025. The agenda for this meeting includes amendments to the Articles of Association, which involve changes to capital structure and voting rights. These developments highlight Hepsiburada’s ongoing efforts to maintain transparency and align with corporate governance principles.
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