An IPO candidate company should apply to the CMB in order to receive approval for its prospectus, and at the same time, it should apply to Borsa İstanbul to be listed in the relevant market of the Exchange. A simultaneous filing to the CMB and Borsa İstanbul is preferred in order to reduce processing times. The application could be filed by the company or on its behalf by the authorized brokerage/investment house.

Furthermore, the scope of the PR efforts of the IPO campaign is expected to be defined at this step. Since PR efforts are crucial in order to attract as much investor as possible, utmost care has to be administered at this stage. These will include executive statements dwelling upon the company’s intention to proceed with an IPO, and often press publishing or other visual communication methods that touch on the company’s core business activities could be utilized. Moreover, depending on the target investor base and the magnitude of the IPO, an international PR campaign could be launched.