COSTS

 

The cost of public offering to a company may be categorized under 5 headings:

Fees payable to underwriters
The issuer pays an underwriting fee to the lead underwriter and if any other members of the syndicate, that mediate to the public offering over the total amount of the issue at rates which vary depending upon the volume of the issue and the type of underwriting service rendered. Such fees are determined with the underwriting agreement executed between the issuer and the underwriter.

Fees payable to CMB
CMB charges a registration fee equal to two thousandth (0.2%) of the issue value of the shares registered and to be sold.  
 
Fees payable to ISE
The listing fee is charged to the companies whose stocks start to be traded on the National Market whereas a market registration fee is charged to companies that start to be traded on the Secondary National Market.

• National Market listing fee is one thousandth (0.1%) of the nominal value of the company capital.
• Second National Market registration fee is one thousandth (0.1%) of the nominal value of the company capital.

 

Fees payable to CRA
The Central Registry Agency Inc. charges a membership entrance fee equal to one thousandth  of the issued/paid-in capital of the publicly-traded companies (0.1%; not to be less than TRY 2,000 and more than TRY 50,000).    

Other cost items
In addition to the above fees charged during the public offering transactions, the issuer may incur fees payable to independent audit for independent audit reports and publicity costs at home/overseas.