ADMISSION TO THE MARKET

 

 

Stocks of the companies and SME's failing to satisfy the National Market Listing Criteria are eligible for trading on Second National Market. Stocks which no longer satisfy the requirements of being traded on the Listed Market (National Market) can also be traded on Second National Market provided that the Executive Council of the Exchange decides to include them in Second National Market temporarily or permanently.

Market Admission Criteria
In order for a company which is registered with Capital Markets Board and lodges an application for the listing of its stocks on the Exchange to be admitted to Second National Market, the Executive Council of the Exchange has to make a positive decision to that effect as a consequence of the examination and evaluation carried out with respect to:

- If the ratio of the market capitalization of the publicly offered shares of the company and the ratio of such shares to the paid-in or issued capital of the company is, respectively, minimum TRY 6,100,000 and 15% or TRY 12,200,000 and 5%. 

- the financial and legal condition of the company,

- its operations,

- the outstanding volume of its stocks provided that there is nothing preventing the circulation of the relevant stocks. 

The above mentioned condition may not be sought in admission to Second National Market of a company which no longer meets the requirements of being traded on the Listed Market (National Market) and whose stocks have been permitted to be traded on  Second National Market on a temporary or a permanent basis through a decision of the Executive Council of the Exchange.

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