The CMB updates the IPO criteria based on financial performance at the end of each year. In 2024, companies wishing to go public must have assets above TRY 1 billion 500 million in 2023 and TRY 2 billion 400 million in 2024, and net sales above TRY 750 million in 2023 and TRY 1 billion 200 million in 2024 in their independently audited TFRS-compliant financial statements.
These conditions are relaxed for renewable energy, petrochemicals, defense industry, software-technology for defense industry, agriculture and R&D companies. In 2024, companies in these sectors wishing to go public must have assets above 450 million Turkish Liras in 2023 and 1 billion 200 million Turkish Liras in 2024, and net sales above 270 million Turkish Liras in 2023 and 600 million Turkish Liras in 2024 in their independently audited TFRS-compliant financial statements.
Even if these criteria are met, it is not possible for companies that have not made a profit in the last two years to go public. In the Star Market, this rule is relaxed provided that the following conditions are met;
- The partnership has an operating profit in the last audited financial statements of the last year and the related interim period,
- The market value of the shares offered to the public must be at least TL 4 billion,
- The equity/shareholders' equity ratio to be calculated by adding the premiums related to the shares to be obtained from the public offering and the nominal amount of the increased capital to the amounts classified under shareholders' equity in the last audited financial statement is greater than one,
- Public offerings should not be made only through shareholder sales.
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