CMB decision of interest to investors: A new era begins on the stock exchange

The Capital Markets Board (CMB) is implementing new regulations that concern companies traded on Borsa İstanbul and investor groups. According to a report by Sabah, along with these decisions, the shareholding notification threshold has been lowered, and the framework regarding the calculation of shares in actual circulation (FDP) has been redefined.

According to the new principles, as of September 11, the notification requirement for shareholding in the capital of companies on the stock exchange will be reduced to the 3 percent level. This step aims to ensure that changes in ownership structures are reflected in the market more quickly and transparently.

The Central Securities Depository (MKK) will keep lists of investors who directly hold 3 percent or more of shares, as well as real and legal persons who indirectly hold at least 10 percent of shares, including free funds, updated in real-time.

With the regulation, the concept of shares in actual circulation has been defined as the primary metric indicating the free-float rate. When calculating the FDP rate, the ratio of the amount of shares in actual circulation tracked by the MKK to the total number of shares in the MKK system will be taken as the basis.

The CMB has excluded certain share groups from the calculation to more accurately reflect market liquidity and the actual level of free float. Accordingly, shares belonging to public legal entities, company founders, consolidated related institutions, partners holding at least 10 percent of the capital, members of the board of directors and audit committee, and senior executives will not be included in the FDP calculation.

Furthermore, shares acquired by companies through buybacks, legally restricted, prohibited or seized shares, certain collateralized shares, company fund or foundation shares, and shares traded on foreign stock exchanges will also be kept outside the actual circulation calculation.

INVESTIGATION INTO SOCIAL MEDIA POSTS

Following an application by the CMB, a judicial investigation was initiated by the Istanbul Chief Public Prosecutor's Office regarding posts made by the account with the username "bySerez" on X. In the investigation file, posts concerning shares traded on Borsa İstanbul with the codes EYGYO, AHGAZ, TERA, BVSAN, A1CAP, SNICA, KAYSE, OBASE, and SOKE between March 1, 2023, and August 1, 2023, were examined.

Detention warrants were issued for 5 suspects within the scope of the "information-based market fraud" charge. While 4 suspects were apprehended in simultaneous police operations, it was reported that efforts are ongoing to capture 1 suspect who is stated to be a fugitive.

News Source: 12punto