The financial criteria required for IPO applications have been reset for companies applying to go public in 2026. By decision of the CMB, the total asset and net sales revenue thresholds have been raised significantly.
For IPO applications made in 2026, the key thresholds that applicant companies must meet on the basis of their audited financial statements for the last two years have been updated as follows:
| Year | Total assets (minimum) | Net sales revenue (minimum) |
|---|---|---|
| 2025 | TRY 3,600,000,000 | TRY 1,800,000,000 |
| 2024 | TRY 2,400,000,000 | TRY 1,200,000,000 |
The financial statements used for 2026 applications are those calculated in terms of purchasing power as at 31 December 2025 and 31 December 2024.
Sector-specific relief continues
The CMB will continue to apply reduced IPO criteria for companies operating in certain sectors (such as energy, chemicals, defence, agriculture and advanced technology).
The reduced thresholds for 2026 are as follows:
| Year | Total assets (minimum) | Net sales revenue (minimum) |
|---|---|---|
| 2025 | TRY 1,800,000,000 | TRY 900,000,000 |
| 2024 | TRY 1,200,000,000 | TRY 600,000,000 |
In addition, the minimum capital required to move to the registered capital system has been raised to TRY 200,000,000 for 2026 (it was TRY 150,000,000 for 2025).
With the 2026 criteria, for companies aiming to go public, the audit is no longer just an obligation; when structured correctly, it has become a strategic element that determines the outcome of the process.
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This publication is for general information only and is not a substitute for professional advice.