1.Capital increases and share purchases and sales in the Private Market are conducted in accordance with the provisions of the Turkish Commercial Code (TCC) and the Turkish Commercial Code (TTK).
2.The Private Market is a membership-based platform, available 24/7. Technical support for potential questions and issues regarding the Private Market is provided between 9:30 am and 12:00 pm and 2:00 pm and 6:00 pm on business days.
3.Publicly traded companies are not accepted into the Private Market. Their shares cannot be traded on the Private Market.
4.Shares traded on the Private Market cannot be offered to the pmdpart. Companies wishing to offer their shares to the Private Market must notify the Board during the application process. If the Board approves the IPO prospectus, these companies are removed from the Private Market list.
5.New Enterprises (Start-ups) and Emerging Enterprises can apply for inclusion on the Private Market company list. For both categories, acceptance into the Private Market requires a positive decision from the New Ventures Evaluation Committee and the Emerging Ventures Evaluation Committee within the Borsa Istanbul Private Market. The final decision on acceptance or rejection is made by the Private Market management based on the decision of the relevant Evaluation Committee.
6.An application to the Capital Markets Board, nor a Board-approved prospectus, circular, or issuance document, is required for the sale, issuance, or transfer of shares of companies listed on the Private Market.
7.Transactions in the Private Market can be conducted through intermediaries acting as proxies. Using an intermediary is optional and not mandatory.
8.The shares of companies listed on the Private Market must be registered. If companies that are members of the Private Market have bearer shares, these shares are converted into registered shares.
9.The number of shareholders of companies that are members of the Private Market cannot exceed the minimum number of shareholders required for public company status (currently 500) as stipulated in the Board regulations. Companies that reach 500 shareholders will be considered public companies and will be subject to the Board regulations. Companies that reach 499 shareholders are removed from the Private Market list.
10.Transactions made by qualified investors and angel investors of companies accepted to the Private Market list on this platform are considered professional transactions. These individuals do not require public protection for their transactions. Borsa Istanbul Inc. is not responsible for any losses incurred as a result of transactions conducted on the Private Market. The Private Market has no obligation to protect or inform the companies and investors listed on the Private Market.
11.The parties acknowledge and undertake, through their membership agreement, that all information they share on the Private Market is accurate and up-to-date. The Private Market does not guarantee the accuracy and up-to-dateness of the information provided by the parties on the platform and cannot be held responsible for any losses that may be incurred by the parties or third parties.
12.New and emerging ventures, qualified investors, and qualified investors and angel investors residing abroad can apply for membership in the Private Market. The final decision on acceptance or rejection is made by the Borsa Istanbul General Manager or the Private Market managers authorized by the General Manager.
13.The amount of bids submitted on the Private Market cannot be less than 50,000 TL (Fifty Thousand Turkish Lira) for new ventures and 200,000 TL (Two Hundred Thousand Turkish Lira) for emerging ventures.
14.Share transfers and payments are made by the buyer and seller outside the Private Market. The Private Market is not responsible for transfers and payments made outside the Private Market.
15.The transfer of shares traded on the Private Market is carried out in accordance with the provisions of the Turkish Commercial Code (TCC). Furthermore, the Private Market does not involve a continuous auction, and there is no mandatory share transfer lock-up period. However, depending on the nature of the transactions, a share transfer lock-up period may be imposed to prevent share trading for a period determined by the parties.
16.Shares of companies that are members of the Private Market Platform can be traded between companies listed on the platform, qualified investors, licensed angel investors and angel investor networks, and foreign real persons and legal entities residing abroad.
17.Companies are obligated to update their shareholding structure accurately and up-to-date on the platform with every change. Furthermore, the shareholding structure table is updated annually upon membership registration renewal. Failure to fulfill these obligations may result in the suspension of a company's Private Market membership.
18.Trading on the Private Market does not guarantee any income. Purchases and sales of shares of companies that are members of the Private Market are for professional/qualified investors only.
19.Borsa Istanbul does not provide any guarantees and assumes no liability regarding investments made on the Private Market.
20.Borsa Istanbul cannot be held responsible for the bankruptcy, default, or cessation of operations due to financial and economic conditions of companies listed on the Private Market Platform.