Politics

Turkey’s Capital Markets Board announces new IPO regulations


GDANSK – Turkey’s Capital Markets Board issued new regulations late on Thursday limiting investor allocations in medium and large-scale initial public offerings of companies in the stock exchange.

The board decided to change the allocation of individual investors from proportional to a fixed allocation if the bookbuilding for public offerings exceeding 750 million lira ($39.45 million) is conducted outside the stock exchange.

Under the new regulation, the allocation of shares is capped at 1% of total shares offered for each local fund.

The board imposed a limit on the book-building of investors, with their demand not permitted to exceed 25% of the share allotment designated for their respective group.

($1 = 19.0100 liras)

(Reporting by Canan Sevgili; Editing by Daren Butler)



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