The Paper Corp. (a joint-stock corporation) whose shares are not registered and/or not traded in any market wants to issue corporate bonds with a total of 100.000.000 TL nominal value and make a public offer for those bonds. Based on the 6362 Capital Markets Law, the managers of the Paper Corp. think that they will be regarded as publicly held corporation after the public offer of the bonds.

If you agree with the Paper Corp.’s managers, what steps the Paper Corp should take to be a publicly held corporation by the public offer of the corporate bonds.

If you do not agree with the Paper Corp.’s managers, state your reasons for the Paper Corp. cannot be regarded as a publicly held corporation by the public offer of corporate bonds. Base your reasons on the Capital Markets Law and state the relevant articles.