Before applying to the Capital Markets Board (CMB) for a public offering, a critical step is to make the necessary amendments to the articles of association of the company and to have these amendments approved by the CMB. This process should be completed before the public offering application and the articles of association of the company should be revised in accordance with the CMB regulations. The company should prepare a draft amendment to the articles of association by carrying out the necessary work to harmonise its articles of association with these regulations. Together with the prepared draft, other information and documents requested by the CMB should be submitted to the Capital Markets Board and approval of the draft amendment should be requested. Following the approval of the draft, the legal process needs to be finalised.
Following the amendment of the articles of association approved by the Capital Markets Board, the public offering application must be made simultaneously with the application to be traded on Borsa Istanbul. Following the application, a detailed examination process will be initiated by the Capital Markets Board experts and requests for missing information or documents will be made from the company. During this process, experts can visit the company's headquarters and production facilities and carry out the necessary inspections.
After all examinations are completed, the Capital Markets Board will make its decision on the company's public offering application. This stage is an important part of the public offering process and all regulations and application procedures must be meticulously complied with in order to successfully complete the process.