Regulatory Alerts2008-06-11
Ordinance No. 41 of 11.06.2008 on Requirements for the Justification of Share Prices of Public Companies in Cases of Transformation, Joint Venture Agreements, and Public Offers
The Commission for Financial Supervision issued Ordinance No. 41 to establish mandatory requirements for justifying the fair price of shares in public companies during transformations, joint venture agreements, and public offers. The regulation defines fair value calculation methods, including discounted cash flows, net asset value, and market multiples, while strictly regulating the weighting and application of these valuation techniques. It further mandates detailed disclosure of assumptions, financial coefficients, and macroeconomic factors to ensure transparency and objectivity in share pricing.
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