The concept of "public offering" in capital markets law and underwriting agreements

Public offerings and private placements are the two major security sale models. Privateplacement is a relatively popular model in United States and Great Britain, as it adresses to thequalified institutional buyers and the sophisticated (?accredited?) investors. Nevertheless, thissale model is not frequently used in Turkey, as the relevant legislation does not constitutea reliable legal infrastructure for this kind of transactions.Underwriting agreements are the contracts executed between the issuers and the issuinghouses. In the second part of the thesis, the legal nature of the best effort, stand-by and firmcommitment underwriting agreements will be examined in particular.Keywords : Public Offering, Private Placements, Best Effort Underwriting,Stand-by Underwriting, Firm Commitment Underwriting