Approval for new IPO from the CMB

According to the CMB bulletin, the Board has approved the initial public offering of IC Enterra Yenilenebilir Enerji at 10 Turkish Lira per share, the application by Vakıf Finansal Kiralama for a capital increase of 1 billion Turkish Lira, the applications by Pankent Sanayi ve Ticaret for a bonus issue of 27 million Turkish Lira and by Makim Makine Teknolojileri Sanayi ve Ticaret for a bonus issue of 56 million Turkish Lira, the applications by Eko Faktoring for a debt instrument issuance of 275 million Turkish Lira and by Türkiye İş Bankası for a debt instrument issuance of 5 billion Turkish Lira, and the application by Pasha Yatırım Bankası AŞ Hepsiburada Varlık Finansmanı Fonu for an asset-backed security issuance of 2 billion Turkish Lira.

Deciding to approve the request of Ardventure Kitle Fonlama Platformu AŞ to be included in the list of platforms authorized by the Board to engage in equity-based crowdfunding activities, the CMB also decided to initiate legal proceedings to block access to 72 websites determined to be offering leveraged trading services abroad to residents in Turkey via the internet.

Approving the request for the liquidation of QNB Finans Portföy Yedinci Serbest (Döviz) Fon and QNB Finans Portföy Dokuzuncu Serbest (Döviz) Fon, founded by QNB Finans Portföy Yönetimi AŞ, the CMB also decided to approve the requests for the establishment of and the issuance documents for the participation shares of Deniz Portföy Yönetimi AŞ İkinci Gayrimenkul Yatırım Fonu, Deniz Portföy Yönetimi AŞ Üçüncü Gayrimenkul Yatırım Fonu, İş Portföy Yönetimi AŞ Çanakkale Gayrimenkul Yatırım Fonu, İş Portföy Yönetimi AŞ Yedinci Gayrimenkul Yatırım Fonu, Omurga Gayrimenkul ve Girişim Sermayesi Portföy Yönetimi AŞ Gamecapita Girişim Sermayesi Yatırım Fonu, and Rota Portföy Yönetimi AŞ ODS Girişim Sermayesi Yatırım Fonu.

The CMB also adopted a principle decision regarding the determination of procedures and principles to be followed in the establishment of brokerage firms. In this context, it was decided that the minimum initial capital required for brokerage firms to be established shall be set at 300 million Turkish Lira.

Furthermore, it was decided that for a period of 2 years following the Board decision date of March 21, 2024, regarding the establishment authorization of brokerage firms to be established, no transaction shall be carried out that would result in a capital outflow that would cause the capital to fall below the determined minimum initial capital amount, except for force majeure cases arising from legal obligations.

News Source: AA