Concentrated in the [South Korea goyounghun financial newspaper reporter] majority KOSDAQ-listed companies of the Company's securities report corrections required are required attention from investors.
According to the Financial Supervisory Service (FSS) listed companies 29 days to submit a securities report showed that more than 49 cases decreased (-9.8%), 502 cases the previous year a total of 453 cases during 2016.
This is because the 52 cases from the previous year is due to the return of debt securities such as economic slowdown and rising interest rates (-21.4%) and had plunged.
Equity securities thing you notice is increased compared to the previous year and the capital increase in accordance with increasing despite reduced IPO like the end of an unstable domestic situation.
38 Missing the essentials of last year received a total of 453 cases of securities return to base or unclear gun and demanded a correction to the (correct ratio requirement of 8.4%). The number of correct requests (38 cases) is the same as the previous one, and needs correction rate is slightly higher than the previous year securities (7.6%) due to the decrease in notification received 8.4%.
Correction required ratio of the KOSDAQ are listed as (25 results of 106 cases) 23.6% much higher than the securities listed (6.6%) and unlisted (1.1%).
Among the general unsecured debentures and correction requirements for the IPO (IPO) showed no, was the focus correction required for the merger (27 cases), rights issue (9). Was the organizing company acquired responsibility not recruited arrangements (18.5%) and direct public offering (13.0%) was higher correction required rate method, corrections required by 38 cases of detail corrections required destination entry is compared to 54.2% 452 year a total of 697 dogs It increased.
Shares, debt securities complaint was concentrated in the financial, governance risks related companies (42.7%), merger-related securities merger notification is required for correct value and the calculation basis (46.4%).
Shares, company received a correction notice is required after the submission of debt securities generally it showed weak financial structure and management stability.
The average debt-to-equity ratio of the companies (total debt / equity) were full-listed companies was higher more than doubled (74.6%) to 161.6%, the business slump due 2015 based on debt, so will not bear the financial biyung OP capacity was vulnerable.
In addition, securities management report were also many companies that unstable state such that the largest shareholder changes before and after six months submission. If you are a privately held saga goes directly to the contest procedures, it was also there to be probable risk factors that may affect the investment decisions were missing in the securities report.
The FSS has advised that investors can be more corrections until cheongyakil Securities report corrected notification in accordance with the requirements of the Financial Supervisory correction, as well as the company return voluntarily corrected also need to ensure that such a meticulously correct information.
Investors audit opinion of the external auditor on the case of the largest shareholders changed the company just before the capital increase, and must ensure that management stability is maintained by the largest shareholder participation during IPO capital increase, "whether continuation of a going concern 'the Boogie It is to be understood itneunjido.
FSS gimdo corporate disclosure Commissioner said "financial structure is weak businesses and enhance the disclosure review of the securities report to submit, analyze and recently caused a major correction required practices that will continue to guide the investors note, etc.".
In addition, it plans to urge securities companies and listed IB so we held the conference site, with legal practitioners is not required due to the correction delay the schedule, such as the planned financing lines faithfully describe the Securities report.
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