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Regular
Requirements |
Date of Establishment |
(Reg) Exceeding 3 years |
(Venture) N/A |
| Shareholder’s Equity |
(Reg) Exceeding KRW 3 million |
(Venture) Exceeding KRW 1.5 million |
| ROE / Net Income |
(Reg) Recently exceeding 10% / exceeding KRW 2 million |
(Venture) Recently exceeding 5% / exceeding KRW 1 million |
| Debt Ratio |
Substitute with quality examination |
Diversification
Requirements |
Public Offering |
1. No. of shares registered following the pre-examination and until the
IPO application date
ⓐ When a minority shareholder’s shareholding ratio is less than 30%
at the date of application: exceeds by 20%
ⓑ When a minority shareholder’s shareholding ratio is more than 30%
at the date of application: exceeds by 10%
2. More than 500 minority shareholders
3. Common stock standards |
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Capital
Increase
Limitations |
Paid-in capital increase |
Total increase of capital within 1 year prior to application, and the capital to be increased through the exercise of non-converted CB must be lower than 100% compared to the capital at the end of the 2nd business year before the date of application (the exceeding capital must be set as a safeguard deposit) |
| Capital increase w/o consideration |
The capitalization amount within 1 year before the application must be lower than 100% of the capital at the end of the 2nd business year before the application.
Following capitalization, the capital ratio of the capital must exceed 200%. |
Other
Requirements |
Impaired capital |
Non-existing |
| Performance |
Ordinary income |
| Transfer Agency Institution |
None contracted |
| Uniform Stock Certificate |
None issued |
| Auditor’s opinion |
Appropriate (audit to be conducted by a specified auditor) |
| M&A |
Closed accounts will be confirmed within the same business year as the M&A. However, if the period from the date of the M&A to the end of the business year is less than 3 months, confirmation of closed accounts will take place in the following business year. |
| Litigation, Default |
Non-existing (to be considered defaulted after 6 months) |
| Transfer Limitations |
Non-existing |
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| Limitation of change in equity of more than 5% of the shareholders, major shareholder, and related party |
No changes must be made within 1 year prior to the application date (non-registered / registered directors, related company directors, and repurchased stocks included) |
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| False recording and omission of account |
Should not exist |
As these are the main reasons for omission in the recent KOSDAQ IPO review, a thorough examination of companies must be done to identify problems and draw up solutions. |
Financial stability
(based on current ratio, quick ratio, dependency on borrowings, and sales expenses) |
Will be approved |
| Auditor (accounting firm), investment status of venture capital employee |
Should not exist |
| Management of timeliness and disclosure of important items |
Will be acquired |
Extremely inappropriate IPO
(violation of related regulations, default probability, etc.) |
Should not exist |
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