Q1-2010 New sales methods in public offerings

The Communiqué on Principles regarding Sales Methods in the Public Offerings of Capital Market Instruments (Serial VIII, No: 66) (published in the Official Gazette dated April 3, 2010 and No. 27541) has been enacted. This Communiqué repeals the Communiqué (Serial VIII, No: 22) regulating sales methods in the public offerings of capital market instruments. The Communiqué introduces a drastically reduced required allocation rates to individual and corporate investors applicable irrespective of the total sales value of capital market instruments to be subject to allocated sales. Before the enactment of the Communiqué, the rates applicable to capital markets was 30% for those with a sales value of at least TL100 million and 50% for less than TL100 million.

 

Pekin Pekin