Türkgücü Munich goes public

Third division club Türkgücü Munich is planning to be the third football club in Germany to go public. As the Sports picture reported that the Munich-based company wants to sell shares of around twelve euros to fans, private investors and investors for the first time from Thursday as part of a pre-market capital increase.

This “pre-IPO” subscription phase lasts seven weeks, during which the club intends to raise up to eight million euros. Thereafter, the stock market flotation (IPO) is planned in the medium term. Investors must buy at least ten shares from Thursday, and one share will cost 15.02 euros when the company goes public. “Together with our shareholders, we want to achieve our ambitious goal of the 2nd Bundesliga,” said Managing Director Max Kothny.

Borussia Dortmund was the first German club to go public in 2000, followed two years ago by the then third division SpVgg Unterhaching. Türkgücü is hoping for promotion to the 2nd league, but the structures such as an own stadium as well as training grounds and a youth performance center are still missing.

Türkgücü, founded in 1975 by Turkish migrants, started the third division season with one win and three draws.