BIST Stars Market (Yildiz Pazar)
- Minimum market capitalisation
- USD 100m
- Minimum free float
- 10%
- Track record
- 2 years
- Profit required
- Yes
- Minimum shareholders
- Not specified
- Lock-up
- 12 months
Exchange comparisons
BIST or DFM
Listing requirements of BIST and DFM compared from the directory data. Check the primary sources before making decisions.
Data checked: 6 November 2026
Key facts
| Borsa Istanbul | Dubai Financial Market | |
|---|---|---|
| Location | Istanbul, Turkey | Dubai, United Arab Emirates |
| Regulator | Capital Markets Board of Turkey (SPK / CMB) | Capital Market Authority (CMA), formerly Securities and Commodities Authority (SCA) |
| Trading currency | TRY | AED |
| Indicative timeline | Not specified | Not specified |
| Listing segments | 3 | 2 |
Segments side by side
Figures by segment from the exchange rulebooks. Not specified means the rule does not set the figure or it has not been verified yet.
BIST
BIST Main Market (Ana Pazar)
- Minimum market capitalisation
- USD 25m
- Minimum free float
- 20%
- Track record
- 2 years
- Profit required
- Yes
- Minimum shareholders
- Not specified
- Lock-up
- 12 months
BIST SubMarket (Alt Pazar)
- Minimum market capitalisation
- USD 10m
- Minimum free float
- 25%
- Track record
- 2 years
- Profit required
- Yes
- Minimum shareholders
- Not specified
- Lock-up
- 12 months
DFM
Main Market
- Minimum market capitalisation
- Not specified
- Minimum free float
- 20%
- Track record
- 2 years
- Profit required
- Not specified
- Minimum shareholders
- 100
- Lock-up
- Not specified
Private Market (private joint stock companies)
- Minimum market capitalisation
- Not specified
- Minimum free float
- Not specified
- Track record
- 2 years
- Profit required
- No
- Minimum shareholders
- Not specified
- Lock-up
- Not specified
Borsa Istanbul
Who each exchange suits
- Profitable Turkish and regional companies seeking a large, active retail investor base
- Issuers in strategic sectors (lower SPK asset and sales thresholds)
- Foreign companies already listed on designated major exchanges (simplified dual listing)
What to check
- Profit required for 2 years on every market; thresholds in TRY are revised often (doubled in September 2026)
- High lira inflation and currency volatility affect valuation and USD equivalents
- Controlling shareholders face a 1-year restriction on selling below the IPO price
Dubai Financial Market
Who each exchange suits
- Large, liquid onshore UAE market with strong retail and institutional demand for IPOs
- No market cap threshold: two listing categories let smaller PJSCs list
- Private Market route lets private joint stock companies list without an IPO
- Low exchange fees
What to check
- Onshore issuer must be (or convert into) a UAE PJSC under the Companies Law, IPO prospectus approved by CMA
- Category Two status if fewer than 100 shareholders, free float below 20% or equity below paid-up capital; accumulated losses of 50% or 6-month suspension move a company to Category Two
- Foreign issuers need an existing foreign listing and 2 years of profits
Requirements change. Always confirm with the exchange and the regulator before making decisions. Educational material. Not investment, legal or tax advice.
Other comparisons
Which of the two fits your company?
Eurasia Consulting Group compares exchanges on the numbers and structure of a specific company.
Information on this site is educational. It is not investment advice, an offer of securities or financial advice. Exchange requirements change; always check the primary sources. Full disclaimer