{"id":15376,"date":"2012-05-14T12:49:23","date_gmt":"2012-05-14T10:49:23","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=15376"},"modified":"2012-05-14T12:49:50","modified_gmt":"2012-05-14T10:49:50","slug":"halka-arzlarda-defter-degeri-de-ilan-edilmeli","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/halka-arzlarda-defter-degeri-de-ilan-edilmeli\/","title":{"rendered":"Halka Arzlarda Defter De\u011feri de \u0130lan Edilmeli&#8230;"},"content":{"rendered":"<h1>Halka Arzlarda Defter De\u011feri de \u0130lan Edilmeli&#8230;<\/h1>\n<p>&nbsp;<\/p>\n<p>Borsa Uzman\u0131 Arif \u00dcnver, halka arzlar\u0131n \u00fclke ekonomisine yapaca\u011f\u0131 olumlu katk\u0131lar\u0131n tart\u0131\u015fmas\u0131z oldu\u011funu ifade ederek, her bir halka arz\u0131n bir sonrakine referans te\u015fkil etme psikolojisi yaratt\u0131\u011f\u0131n\u0131 s\u00f6yledi.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1419043086\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>\u00dcnver, halka arz konusuna ili\u015fkin AA muhabirine yapt\u0131\u011f\u0131 de\u011ferlendirmede, iki t\u00fcrl\u00fc halka arz \u015feklinin oldu\u011funu belirterek \u015funlar\u0131 anlatt\u0131:<\/p>\n<p>&#8220;Birincisi ortak sat\u0131\u015f\u0131, ikincisi ise sermaye art\u0131r\u0131m y\u00f6ntemi&#8230; Genellikle ortak sat\u0131\u015f\u0131 modeli ile halka a\u00e7\u0131lmada fiyatlar\u0131n g\u00f6receli olarak y\u00fcksek olmas\u0131 normal kar\u015f\u0131lanmakta ve ortak sat\u0131\u015f\u0131 modelinde kaynak firmaya gitmemekte, direkt olarak pay\u0131n\u0131 satan orta\u011fa gitmektedir. Sermaye art\u0131r\u0131m\u0131 y\u00f6ntemi ile ise halka a\u00e7\u0131lan firmalar da kaynak, firman\u0131n yap\u0131s\u0131 i\u00e7ine dahil olmaktad\u0131r. \u0130MKB verilerine dayanarak baz\u0131 rakamlar vermek istiyorum, \u0130MKB 30 endeksine dahil \u015firketlerin ortalama, piyasa\/defter de\u011feri oran\u0131na bakt\u0131\u011f\u0131m\u0131zda bu rakam\u0131n, 1,50, \u0130MKB 100 endeksinde ise ortalama 1,60 oldu\u011fu g\u00f6ze \u00e7arpmaktad\u0131r.&#8221;<\/p>\n<p>Halka arzlarda fiyat belirleme modelinde, serbest piyasa ko\u015fullar\u0131 \u00e7er\u00e7evesinde arz edenin bir fiyat istemesi ve bu iste\u011fini bir tak\u0131m mali verilere dayand\u0131rmas\u0131n\u0131n do\u011fal oldu\u011funu belirten \u00dcnver \u015fu de\u011ferlendirmeyi yapt\u0131:<\/p>\n<p>&#8220;Di\u011fer taraftan, yat\u0131r\u0131mc\u0131lar\u0131nda talep g\u00f6sterip alaca\u011f\u0131 firma hisselerinin en az\u0131ndan defter de\u011ferini kendilerine bilgi \u00e7er\u00e7evesinde ilan edilmesi gerekir. Bu noktada, yat\u0131r\u0131mc\u0131lar a\u00e7s\u0131n mali tablolardan baks\u0131n diyebilirsiniz fakat, mevcut yat\u0131r\u0131mc\u0131lar\u0131n da hepsinin finansal okur yazarl\u0131\u011f\u0131n\u0131n bu verileri tespit edemeyece\u011fi san\u0131r\u0131m herkesin malumudur.&#8221;<\/p>\n<p>Yap\u0131lan halka arz ne kadar sa\u011fl\u0131kl\u0131 olursa bir sonraki halka a\u00e7\u0131lacak firmaya gelecek talebi de etkileyece\u011fi yorumunu yapan \u00dcnver, &#8220;Halka arzlar da iki nokta \u00f6n plana \u00e7\u0131k\u0131yor, birincisi halka a\u00e7\u0131lacak firman\u0131n arz fiyat\u0131, di\u011feri ise halka a\u00e7\u0131lacak firman\u0131n bu kayna\u011f\u0131 ne \u015fekilde kullanaca\u011f\u0131d\u0131r. Sonu\u00e7 olarak k\u00fc\u00e7\u00fck ve orta \u00f6l\u00e7ekli yat\u0131r\u0131mc\u0131n\u0131n korunmas\u0131 ad\u0131na halka arz edilecek firmalar\u0131n nas\u0131l arz fiyat\u0131 ilan ve tespit ediliyorsa, ayn\u0131 \u015fekilde defter de\u011ferleri de ayn\u0131 \u015fekilde yat\u0131r\u0131mc\u0131ya bildirilmelidir. Her bir halka arz\u0131n bir sonrakine referans te\u015fkil etme psikolojisi yaratt\u0131\u011f\u0131 bilinirse, halka arzlarda fiyatlaman\u0131n ne kadar \u00f6nemli oldu\u011fu anla\u015f\u0131lacakt\u0131r.<\/p>\n<p><a href=\"http:\/\/www.borsaokuryazarligi.com\/\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener\">http:\/\/www.borsaokuryazarligi.com<\/a><br \/>\nKaynak: AA<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Halka Arzlarda Defter De\u011feri de \u0130lan Edilmeli&#8230; &nbsp; Borsa Uzman\u0131 Arif \u00dcnver, halka arzlar\u0131n \u00fclke ekonomisine yapaca\u011f\u0131 olumlu katk\u0131lar\u0131n tart\u0131\u015fmas\u0131z oldu\u011funu ifade ederek, her bir&hellip;<\/p>\n","protected":false},"author":1,"featured_media":15377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/15376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=15376"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/15376\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/15377"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=15376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=15376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=15376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}