BIST Increasing ISBTR.E 3881.6 20.00 % MSGYO.E 2.4 15.94 % VAKKO.E 3.58 11.88 % ADESE.E 8.01 11.72 % CLEBI.E 63.65 11.67 % Decreasing KLNMA.E 22.58 -10.40 % KPHOL.E 1.55 -8.28 % RALYH.E 1.6 -5.33 % KERVN.E 0.43 -4.44 % VERTU.E 3.21 -4.18 % VIOP Most Change O_XU030ME1018P130.000 % -100,00 O_XU030ME1018P130.000 % -100,00 O_XU030ME1018P130.000 % -100,00 O_XU030ME1018P130.000 % -100,00 O_XU030ME1018P130.000 % -100,00 Highest Open Position F_USDTRY1018 554.705 F_USDTRY1218 490.220 F_XU0301018 436.431 F_XAUTRYM1018 191.237 F_YKBNK1018 111.200

LISTING REQUIREMENTS


BIST Stars is the market where shares in BIST-100 index and shares the market value of which is equal to or above TRY 100,000,000 according to the actual free float are traded, and BIST Main is the market where shares the market value of which is below TRY 100,000,000 according to the actual free float and shares not included in BIST-100 index are traded.

BIST Stars and BIST Main listing requirements consist of various criteria such as activity period, net profit, minimum free float market value, total market value, public offering ratio and the Listing Directive specifying those criteria can be accessed at, “Listing Directive (pdf)".

In order for company shares to be traded on BIST Star or Main Market, it is necessary to carry the following conditions.

Applications filed for initial listing of shares must have been made for the whole amount of capital of the relevant company, and the  company should meet the following;

a) a minimum period of 2 calendar years must have passed since the foundation of the company (For the purposes of this paragraph, periods of a  company while it is in the status of any  company other than the joint-stock company are also taken into consideration in calculation of 2 years. In the case of application of a new company founded as a holding company upon acquisition of minimum 51% of capital shares of at least one company with an operating period of more than 2 years, the requirement of 2 calendar years is not asked for such holding company. Provided, however, that shareholders’ equity of subsidiaries with at least 2 calendar years passed since the date of foundation must not be below 50% of shareholders’ equity of new company founded as a holding company, and their total assets must not be below 50% of total assets of new company founded as a holding company.)

b) the  company must meet all requirements of any one of the following groups:

 

 

BIST Stars
Group 1

BIST Stars
Group 2

BIST Main
Group 1

BIST Main
Group 2

Market value of shares offered to public

Minimum
TRY
250,000,000

Minimum
TRY
100,000,000

Minimum
TRY
50,000,000

Minimum
TRY
25,000,000

Total market value

Minimum
TRY
1,000,000,000

Minimum
TRY
400,000,000

-

-

Net profit in annual financial statements of the past years audited by independent auditors

Last 2 years

Last 2 years

Last 2 years

Last 2 years

Minimum ratio of nominal value of shares offered to public to the capital

5%

10%

15%

25%

Shareholders' Equity/Capital Ratio in the recent financial statements audited by independent auditors

Over 0.75

Over 1

Over 1

Over 1.25

 

   1) Shares bought by investors who purchase shares of  companys offered to public, corresponding to 10% or more of the capital after public offering, and shares purchased by Directors and general manager of  company or by those working in positions equivalent to or superior from general manager in terms of authorizations and duties or by top echelon managers directly reporting to them (in the position of Deputy General Manager or similar or equivalent positions) are not taken into consideration in calculation of the ratio of nominal value of shares offered to public to the capital, and in calculation of market value of publicly held shares.

   2) In the case of application of a new  company founded as a holding company, except for a financial holding, upon acquisition of minimum 51% of shares of at least one  company with an operating period of more than 2 years, the requirement of “Net profit in annual financial statements of the past years audited by independent auditors” as specified in the table hereinabove must have been met by the subsidiary of the said holding having the highest share in net total sales shown in the “Profit or Loss and Other Comprehensive Income Statement”.

   3) In company’s announcing consolidated financial statements, shareholders’ equity is taken into consideration as shareholders’ equity / capital ratio. In applications to be considered in BIST Stars Group 1, if the company’s shareholders’ equity / capital ratio is lower than 0.75, the shareholders’ equity / capital ratio to be calculated by addition of nominal value of capital increased with premiums of shares to be acquired upon public offering to the amounts classified in shareholders’ equity in the last financial statements audited by independent auditors is required to be more than 1.

c) financial situation of the company must enable it to carry out its business operations in a sound manner;

d) shares of the company must not be restricted by encumbrances precluding the shareholder from using its shareholding rights, and its articles of association must not contain provisions restricting the transfer and circulation of shares to be traded in the Exchange;

e) for causes other than the cases which may be accepted to be valid by the Exchange, the  company must not have suspended its business activities and operations for more than 3 months during the last 2 years, and the  company is not involved in any form of liquidation, composition or suspension of bankruptcy and being subjected to similar other cases determined by the Exchange;

f) the company must not be subject to significant legal disputes affecting its production and other activities, and it must have been documented by a legal report issued by a lawyer not having any direct or indirect relationship with the company that the legal situation of the company in terms of its establishment and business operations and the legal situation of its shares are in compliance with the applicable laws and regulations.