Public offering can be generally defined as the sale of shares through call and announcement to a large number of previously unknown investors. Methods of offering to public may vary depending on different conditions.
Company shares trade on Borsa İstanbul markets under Equity Market (EM). Subject to approval of Borsa İstanbul Management Board for certain criteria, company shares can be traded on BIST Stars, BIST Main, BIST Emerging Companies and Market for Qualified Institutional Buyers. The shares of investment trusts are also traded under EM on Collective and Structured Products Market.
Partnerships applying to be listed in Star Market and Main Market may offer a part of their shares representing their current capital to the public and they may also prefer the public offering through a capital increase by restricting the priority rights of existing shareholders or both methods can be applied together.
The application to BIST Emerging Companies is allowed for the shares to be issued as a result of the capital increase by partially or entirely restricting the rights of the current shareholders to purchase new shares. In this context, it is aimed that funds to be obtained from the sale of the shares are kept in the company in accordance with the purpose of the market development and new funds to be used directly for the development and growth of the company. However, investors licensed by the Undersecretariat of Treasury, private equity investment trusts and venture capital investment funds can offer their existing shares in the partnership during the public offering or from the date the shares begin to trade in the Exchange.