Ninety-seven energy companies have signed the master contract for the establishment of the Turkish Energy Stock Market, the Energy Market Regulatory Authority said on Monday.
The authority announced a deadline of March 4 to 6 for companies to sign the contract. After the contract is signed, the companies are requested to apply for registration to trade. As a registered company, the market will start operation in Istanbul.
Energy exchange shares are categorized into three groups in the company structure of the Turkish Energy Stock Market, EPIAS; A, B and C which will be traded on Turkey's energy stock market. A type shares relate to state-owned companies, type B are traded on Borsa Istanbul and type C shares relate to private companies.
A total of sixty percent of the energy exchange shares - each with a thirty percent share - belong to two state-owned companies; Turkish Electricity Transmission Company, TEIAS, and Borsa Istanbul, Turkey’s state-run stock exchange. The remaining 40 percent of shares belong to the shareholders.
Reporting by Oguzhan Ozsoy, Writing by Ugur Serhan Ozcan
Anadolu Agency
ugur.ozcan@aa.com.tr