Recent Developments
To protect investors' interests, the Capital Markets Board
(the "Board") has introduced significant
amendments to the sale methods and distribution principles for
initial public offerings of shares
("IPOs") with its decision dated March
30, 2023 and numbered i-SPK-128.21 (the
"Decision"). You can access the Board
bulletin, in which the Decision was published, here.
What's new?
According to the Decision, IPOs will be subject to the following
rules:
1. If the market value of the shares to be offered to the public
is TRY 750,000,000 or less, the sale will be made through the
sale-on-stock exchange method.
2. If the market value of the shares to be offered to the public
is equal to or above TRY 750,000,000, and the sale will be subject
to book-building outside of the stock exchange, the following rules
will apply:
