In today’s briefing:
- Korea FSC’s Official Rule Changes for Local IPOs & Key Takeaways
Korea FSC’s Official Rule Changes for Local IPOs & Key Takeaways
- Extending bookbuilding period to seven days (and test-the-waters) is unlikely to make any real difference. Leaving the financial capacity check to underwriters will likely cause sharp confusion in the market.
- The purpose of penalizing so-called hot money, like flippers and non-pricing institutions, is understandable. However, whether FSC has fully considered the side effects caused by uniformly applying this is questionable.
- Expanding the allowable price range on a listing day is the most crucial point we should pay attention to, and we must design a post-IPO trading strategy accordingly.
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