[Last updated: 1 January 2024, unless otherwise noted]

Listing fees consist of the additional listing fees, trading application fees, annual listing fees and other fees. No fee is charged for the initial listings of shares. The Borsa Istanbul-determined fees become effective upon CMB approval.

Additional listing fees. Additional listing fee for the new shares issued through capital increase is 0.03% of the nominal value of such shares.

Trading application fees. Trading application fee is a fixed fee of TRY86,500 (approximately US$2,932).

Annual listing fees. An annual listing fee is applied as (i) 0.005% of the nominal value of the shares listed with Borsa Istanbul and (ii) 0.005% of the annual average market value of the company as at the end of December. No annual listing fee is charged at the first year of listing. The annual listing fee cannot be less than TRY43,500 (approx. US$1,475) or more than TRY8.69 million (approx. US$294,591).

For companies whose registered offices are located abroad, all of the above fees are applied with a 50% discount.

Other fees. The CMB charges companies (i) a fee of 0.2% of the total offering price and (ii) a fee of 0.2% of the total nominal value of the shares not offered to the public during public offerings. However, for initial public offerings, the CMB charges (i) a fee of 0.1% of the difference between the offering price and the nominal value of the offering shares, and (ii) an additional fee of 0.2% of the total nominal value of the share capital. Moreover, as per the CMB's public announcement dated 24 June 2016, these fees are applied with a 50% discount for the time being. There may be additional costs and expenses such as announcement and other public relations fees and notary fees incurred in relation with the public offering and listing processes.