Companies and institutions that are entitled to issue stock:
- Joint stock companies
- Limited partnerships divided into shares (the limited partnerships divided into shares cannot be sold through public offering)
- Institutions founded under a special law (Central Bank of the Republic of Turkey, economic state enterprises founded as an Inc., Public Economic Enterprises (PEE), subsidiaries, insurance companies, etc.)
Joint Stock Companies
Joint stock companies can be divided into three main categories according to the method of issue of stock:
i. Private joint stock companies which are only subject to TCC,
ii. Publicly-held joint stock partnerships outside the authorized capital system (joint stock partnerships that have offered or are deemed to have offered their shares to the public). Companies that are deemed publicly-held due to the number of shareholders in excess of 250 fall within this scope.
iii. Publicly-held joint stock partnerships included in the authorized capital system.
In the authorized capital system, the principal capital of the company is called the "issued capital". The company may increase its capital with a decision of the board of directors by issuing new shares up to the authorized capital amount specified in its articles of association irrespective of the relevant provisions of Turkish Commercial Code (TCC).