Clifford Chance

Expedited route to Europe for Turkish issuers

12 February 2016

On 8 February 2016 the European Securities and Markets Authority (ESMA) published an opinion which will make it easier for Turkish issuers to access the European equity capital markets.

Back in 2011, ESMA published a framework for third country share prospectuses, setting out how third country issuers can meet the requirements of the EU Prospectus Directive, allowing prospectuses from non-EU countries, drawn up in accordance with their national legislation, to have a "wrap" added, such that the resulting document meets the requirements of the Prospectus Directive.

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