Kale Finance Consulting – IPO & Capital Markets Consulting
Kale Finans Danışmanlık offers comprehensive consulting services to institutions in the capital markets, including initial public offerings (IPOs) and additional capital raising processes. Our approach combines Big Four-level professional quality with flexibility aligned with Türkiye's regulatory framework. We offer a roadmap fully compliant with CMB, CBRT, and BRSA regulations, and develop customized solutions for banks and financial institutions.
1. Regulatory Framework (CMB, CBRT, BRSA – 2025)
- CMB public offering criteria: Total assets of at least 2.4 billion TL, net sales revenue of at least 1.2 billion TL.
- Nominal/market value criteria and public offering distribution principles have been rearranged.
- CMB may implement measures such as short selling and share buybacks to maintain market confidence.
- CMB revaluation rate was determined as 43.93% for 2025.
- BRSA/CBRT expects compliance with banking license, capital adequacy, liquidity status and risk management.
- The Central Bank of the Republic of Turkey (CBRT)'s systemic risk notifications, foreign exchange position reporting and liquidity regulations should be taken into account.
2. IPO Advisory with the Big Four Approach
- Strategy & Preparation: IPO target, timing, industry analysis.
- Due Diligence: Financial, tax, legal, operational reviews.
- Valuation & Financing Model: DCF, similar IPO comparisons.
- Prospectus & Public Offering Documents: Preparation in accordance with CMB format.
- Book Building & Pricing: Distribution plan suitable for investor classes.
- Quotation & Listing: Borsa Istanbul application, sales restrictions.
- Performance Monitoring: Post-IPO evaluation and revision.
