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Capital Markets Board of Turkey updates shareholding and free float rules
The Capital Markets Board of Turkey (SPK) has announced significant regulatory changes regarding shareholding disclosure and the calculation of free float ratios for companies traded on Borsa Istanbul. These new rules are set to take effect at the end of the day on September 11, 2026.
A key component of the regulation is the reduction of the mandatory shareholding disclosure threshold from 5% to 3%. Real and legal persons who directly hold 3% or more of a company's capital or voting rights must now disclose these holdings. Additionally, the Central Securities Depository (MKK) will maintain updated tables for those holding 10% or more through indirect ownership, including via free funds.
The regulation also redefines the concept of 'free float' as the public float ratio of a company. The free float ratio will be calculated by dividing the number of free float shares trackable by the MKK by the total number of shares trackable by the MKK.
To ensure accuracy, certain shares will be excluded from the free float calculation. These include shares held by public legal entities, the company itself, founders, consolidated affiliates, treasury shares, and shares held by major partners (10% or more), board members, and senior executives. The MKK will be responsible for calculating and announcing these free float data on a daily basis.
Entities
Borsa İstanbul · Capital Markets Board · Capital Markets Board of Turkey · Central Securities Depository · Central Securities Depository of Turkey · Turkey
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The SPK is lowering the threshold for shareholding notifications from 5% to 3%. www.borsagundem.com.tr · www.ekoturk.com
- [● 2 SOURCES] New regulations regarding shareholding notifications and free float calculations will take effect on September 11, 2026. www.borsagundem.com.tr · www.ekoturk.com
- [○ 1 SOURCE] Shares held by board members, auditors, and senior executives will be excluded from free float calculations. www.ekoturk.com
- [○ 1 SOURCE] MKK will calculate and announce free float data on a daily basis starting September 11, 2026. www.ekoturk.com
- [○ 1 SOURCE] Shares held by partners with 10% or more ownership will be excluded from free float calculations. www.ekoturk.com