SPK/Gönül: This Year, 33 Companies Completed Their IPOs, Raising a Total of 57.4 Billion Lira from the Market
Forex - The President of the Capital Markets Board (SPK), İbrahim Ömer Gönül, stated in his speech at the Future of Finance Summit that significant steps have been taken in recent years for the development of capital markets and that this progress continues. He noted that there has been an increase in investor interest and demand during this period.
Gönül mentioned, "While there are approximately 7 million investors in shares, we have reached 5.4 million investors in investment funds." He added, "Around 36 million of our citizens are directly or indirectly involved in capital markets through borrowing instruments, the individual retirement system, and similar tools. In the past three years, 127 companies have gone public, raising approximately 156 billion lira from the market. This year, 33 companies that completed their IPOs raised a total of 57.4 billion lira from the market. In 2023, our companies issued borrowing instruments and lease certificates worth 888.7 billion lira. In 2024, we carried out a lease certificate issuance worth 1.6 trillion lira. As the Capital Markets Board, we continue to support our entrepreneurs. The size of venture capital investment funds has exceeded 200 billion lira. The asset size of venture capital investment companies has also surpassed 41 billion lira. The amount of managed assets in securities investment funds exceeded 3.7 trillion lira in 2024."
Gönül indicated that 2024 will be remembered as a year in which many regulations were enacted and significant projects were initiated. He highlighted the launch of a financial literacy platform that offers free financial education opportunities to all segments of society and emphasized the continuation of cooperation protocols with ministries, public institutions, and civil society organizations aimed at spreading financial literacy.
He mentioned that a financial literacy mobilization was initiated by the Board to promote financial literacy nationwide, and efforts to meet with students, youth, and women in many cities continue. Additionally, he reported the establishment of an e-application system. Gönül stated that through the e-application system, all organizations and companies subject to the Board's regulations made approximately 2,000 applications electronically in the last six months.
"The regulation of cryptocurrency providers is at the forefront of this year's most significant regulations," Gönül noted, stating that with the amendment to the Capital Markets Law in July, cryptocurrencies are now under the protection and supervision of the SPK.
He also pointed out a regulation regarding venture capital investment funds, saying, "Our regulation, which envisions an increase in the military investment amount transferred from individual pension funds to venture capital investment funds, will contribute to the entrepreneurial ecosystem. We have also implemented regulations regarding project real estate investment funds this year to enable real estate investment funds to contribute to housing production financing. This year, we set the minimum establishment capital for brokerage firms in our regulation at 300 million lira, supporting brokerage firms in achieving a strong equity structure."
Gönül mentioned that the Board granted permission for the establishment of two brokerage firms after 31 years, adding, "Another area our Board has focused on during this period is sustainability. There is an increasing preference for innovative thematic borrowing in international markets and the Turkish capital markets. Thanks to regulations on green financing and sustainable investments, the economy has not only grown but has also taken significant steps towards achieving sustainability."
He emphasized that the total issuance amount related to green and sustainable-themed borrowing instruments by companies has reached 350 billion lira and stated that a guide related to sustainability and social impact will be launched very soon.
Gönül concluded, "We believe that thanks to our Board's innovative and determined efforts, the reputation of Turkey's capital markets in the international arena is increasing day by day. We will continue to work together to ensure the continuation of these successes and to advance our economy."
The summit, which featured a video message from Vice President Cevdet Yılmaz, was attended by Prof. Dr. Göksel Aşan, President of the Presidential Finance Office, Şahap Kavcıoğlu, President of the Banking Regulation and Supervision Agency, Alpaslan Çakar, Chairman of the Board of the Turkish Banking Association, and Onur Gök, President of the Participation Banks Association of Turkey.