By Kim Yon-se
More companies are seeking to go public on the tech-focused Kosdaq market this year on the back of the Korea Exchange’s active coordination with government policies aimed at vitalizing venture start-ups.
According to the Korea Exchange, the number of companies that issued initial public offerings came to 73 in the first 10 months of 2015, skyrocketing 192 percent from 25 in the same period last year.
Meanwhile, the number of firms that submitted their IPO proposals for registration on the Kosdaq rose by 84 percent on-year, from 75 to 138 during the January-October period.
“Recently, the opportunity for technology firms to register on the Kosdaq has been wider under the state initiative,” said an official of the bourse operator.
After booming between 1999 and 2002, the number of IPOs dwindled in the wake of the 2008-09 global financial crisis.
Biotech or pharmaceuticals-oriented firms on the Kosdaq have led the Korean equities’ rally since early this year. Compared to the last trading session of 2014 when it hit 542.97, the index climbed 44.1 percent to peak at 782.64 on July 20.
It is ranging between 670 and 700 points this month.
(kys@heraldcorp.com)