Headline: Capital Markets Board Chairman Gönül: Public Offerings Likely to Continue in the Remaining Two Months, We Are Reviewing the Files

Forex - The Chairman of the Capital Markets Board (CMB), İbrahim Ömer Gönül, stated that they have conducted around 30 public offerings this year, adding, "We have about two months left. Public offerings will likely continue. We are still reviewing the files."

In his speech at the Adana Business World Meeting held in the Sakıp Sabancı Meeting Hall of the Adana Chamber of Commerce (ADASO), Gönül emphasized that they have succeeded in reaching every household in Turkey with instruments such as investment funds and individual retirement accounts, highlighting the need to increase the share of capital markets in the financial system.

Gönül pointed out that the story of financial literacy is not a new one, stating, "This is a process that started after the measures taken in our country in 2014, following the damage seen due to the low level of financial literacy during the 2008 global crisis. However, this process gained a new dimension with the launch of the platform we prepared with the support given by the Minister of Treasury and Finance, Mehmet Şimşek, on May 22. When the Capital Markets Board was appointed as the coordinating institution for financial literacy, we took on this responsibility and are striving to ensure its widespread adoption."

He emphasized that their initial target audiences for financial literacy are young people, housewives, entrepreneurs, and businessmen, saying: "Our aim is to ensure that young people possess financial literacy from an early age, primarily by fostering awareness of savings, budgeting, and making financial decisions in a correct and rational manner. We understand the great significance of housewives having financial literacy, as they raise future generations and manage household budgets, which is invaluable to us. If they can prepare and manage the budget, we start from the core. Our next target audience will be the owners and employees of small and medium-sized enterprises. For us, an employee who manages their finances is primarily a happy employee. An employee with financial problems will not be beneficial to their business. Therefore, to carry out this project with you is truly important to us. While managing our project, we are forging protocols with our ministries to present our project and expand our area of influence."

Gönül stated that the main job of the Capital Markets Board is to protect the small investor and to develop capital market instruments.

Pointing out the increasing interest in public offerings in recent years, Gönül continued his remarks: "The number of investors, which had been around 1.5 or 2 million for years, has risen to 8.5 million after the pandemic, and together with this increase in the number of investors, we set a record with 52 public offerings in one year and later 54 public offerings in another year. Making a total of 54 companies go public in a year shows that we conducted more than one public offering a week, and the market has accepted it. This year, we have conducted approximately 30 public offerings. We have about two months left. Public offerings will likely continue. We are still reviewing the files.

From both the demand side and the companies that have applied for public offerings, we observe that the preference for public offerings continues. The encouraging aspect is that our companies are now realizing that they can grow through public offerings; they have this awareness, and as a result, companies sensitive to interest rates are transitioning to capital markets for growth. With the increase in the number of investors, we should not only consider them as stock market investors. We have reached nearly every household in Turkey through our instruments such as investment funds, individual retirement systems, and bonds. Given that we have managed to enter every household, it is now essential to increase the share of capital markets within the overall financial system."

The CMB Chairman, İbrahim Ömer Gönül, met with women entrepreneurs and businesswomen in Adana.

During his speech at the women entrepreneurs and businesswomen meeting held at the Çukurova Club, under the leadership of AK Party Adana MP and Chairman of the Parliament’s Petition Commission, Sunay Karamık, Gönül stated that financial literacy should be taught to all segments of society.

Gönül noted that the opportunities for women entrepreneurs and businesswomen will increase thanks to the established platform, and he reported that they are continuing efforts to inform and protect small investors: "Financial literacy is necessary for all segments of society. Such projects enhance our momentum. We initially developed a plan for the widespread adoption of financial literacy among women and youth and have begun to walk this path. Another group that needs financial literacy is women entrepreneurs. Companies managed by non-professional managers often struggle due to their financial literacy deficiencies, leading to difficulties in accurately reading balance sheets, developing investment decisions, and risk perceptions. We are not teaching you how to manage a household budget, but we advise you to improve your level of financial literacy to manage your company effectively. The ability of women to become more entrepreneurial in global markets increases as opportunities are provided. For us, the most important thing is to inform investors and protect small investors."

Gönül emphasized that access to capital market instruments would become easier thanks to the platform, stating, "The other purpose of the platform is to introduce you to capital market instruments. For years, these instruments were presented as high-level tools. In fact, they are tools at your disposal, most of which you already use. Our investment funds, in particular, are the most well-known."