Pre-allocation limits for cornerstone investors set at 20% for KOSPI and 30% for KOSDAQ
Original headline코스피 20%·코스닥 30%, 코너스톤투자자 사전배정 한도 정해져
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Korea's Financial Services Commission said the revised enforcement decree of the Financial Investment Services and Capital Markets Act, passed at a Cabinet meeting, caps cornerstone investor pre-allocations at 20% of general institutional allocations for KOSPI listings and 30% for KOSDAQ listings. The decree, to be gazetted in mid-November and take effect on the 13th of the month the law takes effect, also sets eligibility and operating standards for participation in IPO book-building (demand forecasting). Cornerstone investors receive a portion of institutional allocations before listing in exchange for agreeing to a holding period, a mechanism the regulator expects to dampen post-listing sell-offs and bolster IPO investor confidence. Watch for the gazette date and implementing details on book-building eligibility.
Muhabbit's AI wrote this summary in its own words from TokenPost's report and translated it from Korean. It can get details wrong, so check the source.
Named in this story
Financial Services Commission (FSC), KOSDAQ, KOSPI