D MARKET Electronic Services and Trading dba Hepsiburada
|Company Name||D MARKET Electronic Services and Trading dba Hepsiburada|
On or about July 1, 2021, Hepsiburada completed its initial public offering ("IPO"), selling approximately 57 million American Depositary Shares ("ADSs" or "shares") for $12.00 per share.
On August 26, 2021, Hepsiburada announced its second quarter 2021 financial results, reporting that revenue grew 5.2%. The Company also reported "lower gross contribution driven primarily by investments to fortify our position in electronics, investments to penetrate in high frequency categories as well as higher customer demand for low margin products."
On this news, the Company’s share price fell $3.05, or 25%, to close at $8.97 per share on August 26, 2021, significantly below the IPO price.
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