According to the resolution of the Cabinet published on the Official Bulletin on Friday, Borsa İstanbul Anonim Şirketi (Istanbul Stock Exchange Market) has started offering its type B share certificates to the public. A total of 42.75 percent of Istanbul Stock Exchange Market's capital, which is currently held by the Treasury, will be offered to the public until Dec. 31, 2015. Deputy Prime Minister Ali Babacan will then be authorized to extend this term.
The Istanbul Stock Exchange Market will determine the terms and conditions of the public offering of its shares to local or international capital markets, the timing, additional sale rights and incentives, companies that will perform the public offering and all domestic and foreign investment banks that the company will receive services from. The price of shares will be submitted for cabinet approval and the income from the sales will be kept in a separate account to be opened at Ziraat Bank.
