Announcement of Transition to IAS 29 Inflation Accounting System
The Capital Markets Board of Türkiye (“CMB“) published an important announcement regarding the implementation of inflation accounting in its bulletin dated 28.12.2023. The announcement indicated that the IAS 29 inflation accounting system would be applied in the preparation of annual financial reports for the accounting periods ending on 31 December 2023.
You can access the summary containing the details related to this announcement from here.
Monetary Amounts to be Applied in 2024
With the bulletin dated 29.12.2023 published by the CMB, the current amounts of the monetary amounts subject to revaluation rate in the Capital Markets Law No. 6362 (“Law“) and in the regulations or communiqués to be applied for the year 2024 were announced.
Accordingly (not limited to below):
- The amounts for administrative fines specified in the Law have been increased by 46%;
- The minimum capital requirement for transitioning to the registered capital system has been set at TRY 100 million;
- The threshold for companies planning to go public in 2024 has been determined as TRY 750 million in turnover and TRY 1 billion 500 million in asset size as of the end of 2023.
Issuances Approved by The Capital Markets Board of Türkiye – December 2023
INITIAL PUBLIC OFFERINGS |
||
| COMPANY NAME | TYPE of SALE | SIZE of ISSUANCE |
|
Mega Metal Sanayi ve Ticaret AŞ |
Offering Through Issuance of New Shares,
Sale of Existing Shares and Sales of Additional Shares |
TRY 40,000,000
TRY 13,000,000 and TRY 9,750,000 |
|
Kuzey Boru AŞ |
Offering Through Issuance of New Shares and Sale of Existing Shares |
TRY 20,000,000 and TRY 4,000,000 |
|
Sur Tatil Evleri Gayrimenkul Yatırım Ortaklığı AŞ |
Offering Through Issuance of New Shares and Sale of Existing Shares |
TRY 22,500,000 and TRY 22,500,000 |
|
Avrupakent Gayrimenkul Yatırım Ortaklığı AŞ |
Offering Through Issuance of New Shares and Sale of Existing Shares |
TRY 65,000,000 and TRY 35,000,000 |
SHARE ISSUANCES of PUBLIC COMPANIES |
||
| COMPANY NAME | TYPE of SALE | SIZE of ISSUANCE |
|
Fonet Bilgi Teknolojileri AŞ |
Issuance Through Internal Resources |
TRY 104,000,000 |
|
LDR Turizm AŞ |
Issuance Through Internal Resources |
TRY 99,000,000 |
|
Emek Elektrik Endüstrisi AŞ |
Offering Through Issuance of New Shares and Public Offering |
TRY 75,000,000 |
|
Akfen Gayrimenkul Yatırım Ortaklığı AŞ |
Offering Through Issuance of
New Shares and Public Offering |
TRY 2,600,000,000 |
|
Ege Seramik Sanayi ve Ticaret AŞ |
Offering Through Issuance of New Shares |
TRY 360,000,000 |
|
Ege Gübre Sanayii AŞ |
Issuance Through Internal Resources |
TRY 60,000,000 |
|
Karel Elektronik Sanayi ve Ticaret AŞ |
Offering Through Issuance of New Shares and Public Offering |
TRY 402,942,765,175 |
|
Frigo-Pak Gıda Maddeleri Sanayi ve Ticaret AŞ |
Private Placement |
TRY 150,000,000 |
|
Merko Gıda Sanayi ve Ticaret AŞ |
Private Placement |
TRY 100,000,000 |
|
EYG Gayrimenkul Yatırım Ortaklığı AŞ |
Issuance Through Internal Resources |
TRY 117,500,000 |
|
Halk Gayrimenkul Yatırım Ortaklığı AŞ |
Offering Through Issuance of New Shares and Public Offering |
TRY 1,500,000,000 |
DEBT INSTRUMENTS ISSUANCES |
||
| COMPANY NAME | TYPE of SALE | ISSUANCE LIMIT |
| Suzuki Motorlu Araçlar Pazarlama AŞ |
Qualified Investor |
TRY 860,000,000 |
| Karel Elektronik Sanayi ve Ticaret AŞ |
Qualified Investor |
TRY 1,500,000,000 |
|
Dardanel Önentaş Gıda Sanayi AŞ |
Qualified Investor |
TRY 3,000,000,000 |
|
Enerjisa Enerji AŞ |
Qualified Investor |
TRY 20,000,000,000 |
|
Turknet İletişim Hizmetleri AŞ |
Qualified Investor / Private Placement |
TRY 50,000,000 |
|
Düzey Tüketim Malları Sanayi Pazarlama ve Ticaret AŞ |
Qualified Investor / Private Placement |
TRY 150,000,000 |
|
Global Menkul Değerler AŞ |
Qualified Investor / Private Placement |
TRY 450,000,000 |
|
Emir Varlık Yönetim AŞ |
Qualified Investor / Private Placement |
TRY 600,000,000 |
|
Adel Kalemcilik Ticaret ve Sanayi AŞ |
Qualified Investor / Private Placement |
TRY 850,000,000 |
|
Turkcell Finansman AŞ |
Qualified Investor / Private Placement |
TRY 1,000,000,000 |
|
PhillipCapital Menkul Değerler AŞ |
Qualified Investor / Private Placement |
TRY 1,500,000,000 |
|
Mercedes-Benz Finansman Türk AŞ |
Qualified Investor / Private Placement |
TRY 1,700,000,000 |
|
Ak Finansal Kiralama AŞ |
Qualified Investor / Private Placement |
TRY 4,000,000,000 |
|
Vakıf Finansal Kiralama AŞ |
Qualified Investor / Private Placement |
TRY 10,000,000,000 |
|
Korteks Mensucat Sanayi ve Ticaret AŞ |
Qualified Investor |
TRY 3,000,000,000 |
| Kaleseramik Çanakkale Kalebodur Seramik Sanayi AŞ |
Qualified Investor |
TRY 1,000,000,000 |
|
Şeker Finansal Kiralama AŞ |
Qualified Investor |
TRY 1,000,000,000 |
|
Oyak Yatırım Menkul Değerler AŞ |
Qualified Investor / Private Placement |
TRY 10,000,000,000 |
|
Coca-Cola İçecek AŞ |
Qualified Investor / Private Placement |
TRY 3,000,000,000 |
| Bien Yapı Ürünleri Sanayi Turizm ve Ticaret AŞ |
Qualified Investor / Private Placement |
TRY 3,000,000,000 |
|
Aktif Yatırım Bankası AŞ |
Public Offering / Qualified Investor |
TRY 11,000,000,000 |
|
Yapı ve Kredi Bankası AŞ |
Public Offering / Private Placement /
Qualified Investor |
TRY 55,000,000,000 |
|
Huzur Faktoring AŞ |
Qualified Investor |
TRY 125,000,000 |
|
Atılım Faktoring AŞ |
Qualified Investor |
TRY 70,750,000 |
|
İnallar Otomotiv Sanayi ve Ticaret AŞ |
Qualified Investor / Private Placement |
TRY 675,000,000 |
|
Oyak Çimento Fabrikaları AŞ |
Qualified Investor / Private Placement |
TRY 2,000,000,000 |
|
TEB Faktoring AŞ |
Qualified Investor / Private Placement |
TRY 840,000,000 |
|
Creditwest Faktoring AŞ |
Qualified Investor |
TRY 110,000,000 |
|
Sümer Faktoring AŞ |
Qualified Investor |
TRY 120,000,000 |
|
Alnus Yatırım Menkul Değerler AŞ |
Qualified Investor |
TRY 1,000,000,000 |
|
Inveo Yatırım Holding AŞ |
Qualified Investor |
TRY 1,000,000,000 |
| Brisa Bridgestone Sabancı Lastik Sanayi ve Ticaret AŞ |
Qualified Investor |
TRY 5,000,000,000 |
|
OYAK İnşaat AŞ |
Private Placement |
TRY 1,200,000,000 |
|
Kent Finans Faktoring AŞ |
Qualified Investor / Private Placement |
TRY 168,475,000 |
|
Migros Ticaret AŞ |
Qualified Investor / Private Placement |
TRY 2,000,000,000 |
|
Tat Gıda Sanayi AŞ |
Qualified Investor / Private Placement |
TRY 3,000,000,000 |
|
Tüpraş Türkiye Petrol Rafinerileri AŞ |
Qualified Investor / Private Placement |
TRY 10,000,000,000 |
|
Türkiye İş Bankası AŞ |
Public Offering / Private Placement / Qualified Investor |
TRY 53,000,000,000 |
|
Türk Ekonomi Bankası AŞ |
Overseas |
USD 400,000,000 |
|
Aktif Yatırım Bankası AŞ |
Overseas |
USD 20,000,000 |
|
Mavi Giyim Sanayi ve Ticaret AŞ |
Qualified Investor |
TRY 5,000,000,000 |
|
Vestel Elektronik Sanayi ve Ticaret AŞ |
Qualified Investor |
TRY 3,000,000,000 |
|
Garanti Yatırım Menkul Kıymetler AŞ |
Qualified Investor |
TRY 2,000,000,000 |
| Doğan Trend Otomotiv Ticaret Hizmet ve Teknoloji AŞ |
Qualified Investor |
TRY 1,580,000,000 |
|
Otokoç Otomotiv Ticaret ve Sanayi AŞ |
Private Placement /
Qualified Investor |
TRY 4,000,000,000 |
|
Yapı Kredi Faktoring AŞ |
Private Placement / Qualified Investor |
TRY 1,900,000,000 |
|
Doruk Faktoring AŞ |
Private Placement / Qualified Investor |
TRY 490,000,000 |
|
Türkiye İhracat Kredi Bankası AŞ |
Overseas |
USD 4,250,000,000 |
|
Türkiye İş Bankası AŞ |
Overseas |
EURO 300,000,000 |
OTHER ISSUANCES |
|||
| COMPANY NAME | ORIGINATOR / FUND USER | TYPE of CAPITAL MARKETS INSTRUMENT |
TYPE of SALE |
| Türkiye Menkul Kıymetleştirme Şirketi Koç Finans Birinci Varlık Finansmanı Fonu |
Koç Finansman AŞ |
Asset-backed Security |
Qualified Investor |
| Fibabanka AŞ Dördüncü Varlık Finansmanı Fonu |
Fibabanka AŞ |
Asset-backed Security |
Qualified Investor |
|
Halk Varlık Kiralama AŞ |
Superonline İletişim
Hizmetleri AŞ |
Lease Certificate Based on Management Agreement | Private Placement / Qualified Investor |
|
Yatırım Varlık Kiralama AŞ |
Kahramanmaraş Kağıt Sanayi ve Ticaret AŞ | Lease Certificate Based on Management Agreement |
Qualified Investor |
|
Halk Varlık Kiralama AŞ |
Emlak Konut Gayrimenkul Yatırım Ortaklığı AŞ |
Lease Certificate Based on Management Agreement |
Private Placement / Qualified Investor |
|
Goldman Sachs International |
– | Certificate and Covered Warrant | Public Offering / Qualified Investor |
