According to type of given service and size of public offering, companies pay brokerage commission to an intermediary institution. Commission can be negotiated between the company and the intermediary firm.
CMB Registration Fee
Companies deposit 0.02 per cent over the issuance value of the shares, not to be lower than nominal value to the CMB account prior to approval of prospectus by CMB. However, for initial listings CMB registration fee is applied as 0.01 per cent of the difference between nominal value and the share price. Again during initial offering, 0.01 per cent fee is calculated over the nominal value of unsold shares of company.
Borsa İstanbul Fee
Application for ECM is TRY 2,500. Application fee is refunded through set-off from the first annual listing fee. If the application fee is more than first annual listing fee, residual amount will not be refunded. For companies whose registered offices are located abroad, application fee is charged at 50% discount. Listing Fee Tariffs can be obtained from the link.
Central Registry Agency (MKK) Fee
Membership entrance fees, issuance, safekeeping, issuer services, corporate actions services, cash payment services fees and upper/lower limits are applied at a 1/10 rate for companies whose shares are traded on ECM. Fee Tariffs can be obtained from the link.
Independent Audit Fee
Companies pay certain fees negotiable between the contracted audit firm for independent audit reports required by listing regulations.
Market Advisor Fee
In addition to intermediary fee, companies may also pay a fee to the contracted market advisor, which is set between parties.
Legal Counsel Fee
Companies also pay a fee to their selected legal counsels for the documents that is required to be prepared about the legal status of the company for ECM application.
Other Expected Fees
Companies may also incur expenses of possible PR, marketing excluding listing fees above.