The Financial Services Authority issued a new Regulation Governing the Rising Companies Market in today’s issue of the Official Gazette. The Rising Companies Market was established earlier this year by royal decree as a market dedicated for supporting the growth of small and medium companies and startups.
This regulation allows closed joint stock companies (SAOCs), referred to as rising companies in the regulation, to be listed on the Rising Companies Market. The regulation provides that rising companies can be listed in the market either through direct listing or indirect listing if the rising company meets the requirements for the method it wishes to be listed through.
This new regulation paves the way for SAOCs to increase their capital and opportunities of investments from serious and qualified investors, and it can be seen as a way of encouraging LLCs to become SAOCs and be listed on the Rising Companies Market.
This decision comes into force as of tomorrow. To learn more about the Regulation Governing the Rising Companies Market, you can read it in full in English on the link below: