It was possible to sell the shares of non-public partnerships to be issued by means of capital increase to qualified investors without going public and to be traded in the Venture Capital Market of Borsa Istanbul Inc.
The Capital Markets Board’s (CMB) “Communiqué on Principles Regarding Partnerships whose Shares will be Traded in the Venture Capital Market” was published in the Official Gazette.
Accordingly, the “Communiqué on Principles Regarding Partnerships whose Shares will be Traded in the Venture Capital Market”, which was prepared by taking into account the opinions from the market within the framework of the secondary regulation studies carried out by the Board, entered into force.
With the regulations introduced with the Communiqué, the shares of non-public corporations to be issued through capital increase can be sold to qualified investors without going public and traded on the Venture Capital Market of Borsa Istanbul Inc.
With the Communiqué, the procedures and principles regarding the sale of shares of partnerships without public offering through capital increase, the matters to be complied with after the sale of their shares without public offering through capital increase, their financial reports and independent audit, material disclosures, exemptions and other liabilities were regulated.
On the other hand, due to the necessity of repealing the third paragraph of Article 5 of the Share Communiqué (Share Communiqué) numbered VII-128.1 published in the Official Gazette dated 2 June 2013 and numbered 28685, the said regulation was annulled.
Source: Trthaber / Prepared by Irem Yildiz