Sale to Qualified Investors

Debt securities and lease certificates issued for sale to qualified investors are, without any assessment by the Exchange, listed following approval of the prospectus by CMB and after completion of sales.

The issue may also be executed in the Offering Market for Qualified Investors in our Exchange. Accordingly, issuers file an application to the Exchange for sales of capital market instruments to be issued in the Offering Market for Qualified Investors and after completion of sales, for trading of them only among qualified investors in the Outright Purchases and Sales Market of Debt Securities Market, together with all information and documents listed in the Exchange internet site.

The investment firm which will act as an intermediary in sales of capital market instruments decided to be listed as of the starting date of sales sends a trading notice at least 2 business days prior to the date of sales. Information on the issue is published in PDP one day prior to the date of sales at the latest.

In the Offering Market for Qualified Investors, only “Qualified Investors” defined in the capital markets regulations may buy debt securities. It is the responsibility of the investment firms acting as an intermediary in trading within the framework of CMB regulations to check and follow up whether investors are by nature qualified investors or not.

Capital market instruments the issue of which is completed in the Offering Market for Qualified Investors in the Exchange are started to be traded only among qualified investors without being subject to any requirement, in the business day following the date of completion of sales or termination of the period of sales.

The period of sales cannot be more than 10 business days for the issue in the market. However, the portion of the issue which cannot be sold within the period of sales may be resold in the market by requesting additional period of time from the Exchange General Directorate.