The number of South Korean companies newly listed on the country's technology and bio-laden bourse this year is forecast to reach 105, the highest in 13 years.
The Korea Exchange (KRX) said on Sept. 13 that it expects to see a total of 105 companies to be newly listed on the secondary KOSDAQ market, including special purpose acquisition companies (SPACs), this year.
As of the 13th, 65 companies were confirmed to go public on the KOSDAQ. Excluding SPACs, this year's total initial public offerings (IPOs) on the second-tier bourse will come to 85, the largest figure since 2005, when the bourse operator was launched by consolidating the KOSPI, KOSDAQ and derivative markets.
The number of new technology-based special listed companies is expected to exceed 12, hitting an all-time high. Nine firms have completed the listing procedure, while three other companies have filed for an IPO after receiving approval for listing. The number of technology-based special listed companies accounts for 20 percent of the total and the technology special case system has become a major approach road to the KOSDAQ market, according to the KRX.
“The effect of the KOSDAQ market revitalization policy introduced earlier this year has been kicking in from the second half of this year. The KRX will expand the listing of promising tech firms and strengthen support for innovative companies by promoting supply of venture capital,” said the KRX.