Turkey's SPK rolls out new free‑float rule and greenlights major capital increases

The Capital Markets Board of Turkey (SPK) announced that, starting 15 June, shares held indirectly through free‑fund or private‑fund participation units will be excluded from the free‑float calculation. The daily free‑float share count and ratio will be recomputed by the Central Securities Depository (MKK) and published publicly.

In the same bulletin, SPK approved capital‑increase applications for three companies: Ulusal Faktoring AŞ (540 million TL, gratuitous), Ihlas Holding AŞ (1.5 billion TL, cash), and SASA Polyester Sanayi AŞ (785.2632 million TL, allotment). The regulator also cleared large debt‑instrument issuances totalling billions of dollars and lira, granted crypto‑asset custody licences to Akbank, Garanti BBVA and Yapi Kredi, and authorised a new brokerage firm, Biriksin Yatırım Menkul Değerler AŞ. Additionally, SPK imposed a 32 million TL fine and temporary trading bans on several individuals for prohibited social‑media promotions of securities.