TURK Drug and Serum Industries, which produces vaccines, serum, dialysis solutions, biological products and medicine, said in a statement late Friday that there is a record demand for the initial public offering (IPO) of the company.

"There has been a 61.9 times more demand than the volume of the public offering," said Erkan Ünal, the general manager of Oyak Yatırım, a subsidiary of Turkey's military pension fund Oyak.

Ünal also said that there have been 128,000 investors recorded so far.

"There has been 138.6 times more demand than the volume allocated for individual investors," Ünal added.

Oyak Yatırım officials also said that the value of the total public offering has been TL 234.5 million ($31 million) and has recorded 123,000 investors.