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Shares in actual circulation

Actual circulation is the amount and ratio of shares that genuinely change hands on the exchange according to MKK records. The actual circulation ratio, calculated by the Central Registry Agency, is the true free float after deducting shares held long term or in strategic partnerships from the publicly held shares.
Contents
  1. 1.Key points
  2. 2.Formula / calculation
  3. 3.Interpretation
  4. 4.Pitfalls
  5. 5.Frequently asked questions

Key points

  • Borsa Istanbul uses this ratio in index calculations.
  • A rising ratio suggests the investor base is broadening, while a falling ratio may show the controlling or institutional shareholder accumulating.
  • it is not the same as the free float ratio and is usually lower.

Formula / calculation

Actual circulation ratio = (Publicly held shares − Locked / strategic shares) / Total shares × 100. MKK publishes the ratio periodically and it changes with controlling shareholder trades.

Interpretation

A rising ratio suggests the investor base is broadening, while a falling ratio may show the controlling or institutional shareholder accumulating. It directly affects index weight and liquidity.

Pitfalls

it is not the same as the free float ratio and is usually lower. Shares with a small actual circulation carry high manipulation risk and price volatility and may be subject to exchange precautions.

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Frequently asked questions

Actual circulation is the amount and ratio of shares that genuinely change hands on the exchange according to MKK records.

Actual circulation ratio = (Publicly held shares − Locked / strategic shares) / Total shares × 100. MKK publishes the ratio periodically and it changes with controlling shareholder trades.

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