FSS raids NH Investment & Securities headquarters over FADU's IPO
![The Financial Supervisory Service's special judicial police squad raided the headquarters of NH Investment & Securities in western Seoul on Tuesday over the bloated initial public offering of FADU, a fabless solid-state drive and controller company. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2024/03/19/93ca2ad7-cd78-433d-b54d-e62eacc060e1.jpg)
The Financial Supervisory Service's special judicial police squad raided the headquarters of NH Investment & Securities in western Seoul on Tuesday over the bloated initial public offering of FADU, a fabless solid-state drive and controller company. [YONHAP]
The Financial Supervisory Service's special judicial police squad raided the headquarters of NH Investment & Securities in western Seoul on Tuesday over the bloated initial public offering (IPO) of FADU, a fabless solid-state drive (SSD) and controller company.
FADU, established in 2015, went public on the tech-heavy Kosdaq in August through the technology growth special listing track.
The company and its underwriters, which also included Korea Investment & Securities, were criticized for not disclosing their weak earnings prior to the IPO.
with the Korea JoongAng Daily
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