Acquisition Reporting Altered
The Fair Trade Commission said Monday that companies acquiring 15 percent of a Kosdaq market-listed company would be required to report the transaction to the commission. The change to the regulation goes into effect Tuesday.Until now, a reporting requirement was triggered only by the acquisition of a 20-percent stake of any firm not listed on the Korea Stock Exchange.
The new rule treats acquisitions of KSE or Kospi-listed firms equally; purchase of 15 percent of such a firm's shares must be reported. As with reporting changes announced earlier this month, the rules apply only to acquiring firms whose total assets or annual revenues exceed 100 billion won ($77 million).
with the Korea JoongAng Daily
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