1. The company, wishing to convert into a public joint stock company after the SCA's approval has been obtained and a special resolution has been issued by its General Assembly, may sell its shares and / or offer new shares at a public offering according to the controls to be issued by the SCA in this respect. 2. The SCA shall issue a resolution setting out the controls and conditions of sale and offering of the shares at a public offering when the company is converted into the legal form of a public joint stock company. 3. The shareholders or partners of the company wishing to convert into a public joint stock company shall bear all conversion-related expenses and costs until the procedures of the company's conversion and registration as a public joint stock company are completed with both the SCA and the Competent Authority. Such expenses shall include, among others, the valuation of the company and all charges and fees of the parties involved in the offering process, so that the shareholders subscribing for the public joint stock company may not bear such fees. 4. Notwithstanding Article [217.1] of this Decree Law, the cash or in-kind contributions of founders of the company may be transferred after the company is converted into a joint stock company as of the date of its listing on the financial market in the State or the date of being registered in the commercial register with the Competent Authority in case the company is exempt from being listed.
Interpretation and application must be checked against the official text and current version.