Korea Exchange vows easier IPOs on the Kosdaq

South Korea’s bourse operator vowed Monday to offer diverse administrative support for companies hoping to go public on the country’s tech-heavy Kosdaq market.

It is part of Korea Exchange’s (KRX) efforts to smooth out procedures for small businesses’ initial public offerings (IPOs) and to revitalize the second-tier market by attracting innovative firms.

According to the plan, KRX will offer customized consulting services for companies wanting to be listed on the Kosdaq. Such support can make it easier to cope with potential hurdles in advance and to improve the predictability of IPO outcomes.

While boosting communications with applicants over the course of IPO preparations, the KRX plans to cut down on the paperwork needed for a company trying to transfer from the tertiary Konex to the Kosdaq.

“The measures are expected to cut unnecessary costs so as to bring more firms to the Kosdaq,” the KRX said in a release.

The government has been trying to breathe new life into the secondary market, presenting a grand vision of turning it into the world’s top trading venue for tech shares.

Yonhap