A. INTRODUCTION
The financial criteria required to be met by companies planning an initial public offering (IPO) have been raised through the Capital Markets Board of Türkiye ("CMB") decision dated December 26, 2024, numbered 66/2058 ("CMB Decision"), published in the CMB Bulletin dated December 31, 2024, and the amendments made to the Listing Directive by Borsa İstanbul A.Ş. ("Borsa İstanbul") on December 31, 2024.
B. SIGNIFICANT REGULATIONS IN THE DECISION
Under the framework of the CMB Decision, the minimum capital requirement for companies seeking to transition to the authorized capital system has been increased. Additionally, companies planning their initial public offering must now meet higher thresholds for total assets and net sales revenue as reported in their financial statements, which must comply with CMB regulations and be audited by an independent auditor. Furthermore, it has been clarified that for applications submitted by December 31, 2024, the figures or values in
